Joined
·
11,498 Posts
Vivendi Universal could put its recently-acquired shares in EchoStar up for sale as part of a larger effort to sell 10 billion euros ($9.86 billion) worth of assets in two years.
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)
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)
