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Vivendi Eyeing Sale of DISH Stake?
Posted 15 August 2002 - 02:30 AM
When asked if the stake in the satellite TV service could be an asset for sale, Vivendi Chairman and CEO Jean-Rene Fourtou on Wednesday said, "Yes. Depending on the loss, that is something we could do immediately if we wanted."
Vivendi, which on Wednesday reported a 12.3 billion euro ($12.13 billion) net loss for the first-half of 2002, paid $1.5 billion in December 2001 for a 10 percent stake in EchoStar.
Any Vivendi sale of its shares in EchoStar would face hurdles.
An EchoStar spokesperson said there are prohibitions on Vivendi selling or disposing its DISH shares before the closing of EchoStar's pending merger with DirecTV and Hughes. Once the merger is complete - or if it falls apart - Vivendi can sell its DISH shares, subject to certain restrictions, the spokesperson said.
From SkyReport (Used with Permission)
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Posted 15 August 2002 - 05:58 AM
Posted 15 August 2002 - 07:41 AM