CFO Says Vivendi Cash Crunch Ended
From Reuters
Vivendi Universal’s chief financial officer told investors that cash is no longer a problem for the French-American conglomerate.
A new executive team at the company is helping Vivendi come back from the brink of a cash crunch, credibility issues and a plummeting stock price by pursuing the sale of its U.S. entertainment assets, as well as other moves.
“We are, as you say in America, over the hump,” Vivendi CFO Jacques Espinasse said at a Deutsche Bank media conference. “We have had close to $9 billion worth of [asset] sales and more to go.”
Espinasse said there has been a good deal of interest in the assets of Vivendi Universal Entertainment, whose operations include the USA and Sci-Fi cable networks and theme parks.
From Reuters
