Vivendi Hawks Its US Assets as Losses Mount

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Byline: ROSS TIEMAN

DEBT-laden media giant Vivendi Universal says it has been approached by several potential partners for its US entertainment businesses and is examining all possible options.

The urgency of those moves was underlined yesterday with the announcement of the Paris-based group's net loss of e23.3 billion (u15.9 billion) - beating France Telecom's previous record loss of e20.7 billion after one day.

Jean-Ren Fourtou, the executive chairman parachuted in to rebuild Vivendi's shattered balance sheet left by the over-ambitious Jean-Marie Messier, said: "It's not as if I'm in competition with [France Telecom chief executive] Thierry Breton."