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Vivendi misled investors during Universal era acquisitions
Posted: Sat Jan 30, 2010 6:33 am
by Collector
It looks like Vivendi was nor really financially in shape to be acquiring companies when it bought Sierra. If so, no wonder the Sierra languished under VU.
http://news.bbc.co.uk/2/hi/business/8488580.stm
Re: Vivendi misled investors during Universal era acquisitions
Posted: Sat Jan 30, 2010 9:07 am
by Rudy
They are accused of exagerating their financial health in 2001 and 2002, in the middle of the previous stockmarket crisis (most media and tech companies fell 90% at that time). Vivendi acquired Sierra through Havas in November 1998 after the Cendant scandal, so years before the crisis when their financial health was probably in a better condition.