Vivendi is looking for a cash infusion in the form of a "special dividend" to the tune of two billion dollars from Activision-Blizzard. The move would help Vivendi ease some of its financial straits as it works to make a public stock offering or to split off a subsidiary company, SFR.
Conglomerate Vivendi has been working on reducing its exposure to telecoms to focus more on its media businesses in the past year. It is in the advanced stages of selling its 53 percent stake in Maroc Telecom (IAM.CS) to Gulf operator Etisalat ETEL.AD.
The effort to access Activision's $4.3 billion in cash would help it cut debt at a time when its main profit driver, French telecom operator SFR, is suffering from competition.
Read more at Reuters.
