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The Deal: Vivendi's Activision Sale Stalled

Vivendi's agreement to sell its Activision stake is part of a disposal program that is repositioning the French conglomerate as a pure-play media group. Vivendi has also sold a majority stake in Maroc Telecom SA and last week announced that it will split its supervisory board in preparation for a spinoff of French telecommunications unit Société Francaise du Radiotelephone SA, or SFR.

Shares in Vivendi traded Thursday morning in Paris at ¿17.59 ($23.83), up ¿0.14, or less than 1% on their Wednesday close.

-- Written by Paul Whitfield In Paris
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