France’s Vivendi swapped its 55% stake in AOL France for stake in...
France’s Vivendi swapped its 55% stake in AOL France for stake in AOL Europe worth $725 million and possibly redeemable for cash within 2 years, move it said would help its wireless venture Cegetel. Vivendi will show gain of…
Sign up for a free preview to unlock the rest of this article
Timely, relevant coverage of court proceedings and agency rulings involving tariffs, classification, valuation, origin and antidumping and countervailing duties. Each day, Trade Law Daily subscribers receive a daily headline email, in-depth PDF edition and access to all relevant documents via our trade law source document library and website.
$575 million on asset it acquired for $150 million. It said 2/3 of transaction’s value would be used to finance Cegetel’s 3rd-generation buildout using its UMTS license in France. Vivendi agreed not to start rival ISP in France for 3 years and companies reached variety of cross- marketing agreements. Move gives AOL full control of its 4.5- million-subscriber European operation once it buys out Germany’s Bertelsmann.