Technology

Vivendi shares suspended following accounting scandal

Shares in Vivendi Universal have been suspended following newspaper allegations that the company attempted to add E1.51 billion in profits to its 2001 accounts. Vivendi is accused of trying to break accounting regulations by registering the sale of a stake in BSkyB. The misdemeanour was spotted by financial watchdogs.

Staff Writer July 3, 2002

The newspaper revelations caused the value of Vivendi’s shares to fall 38% on the Paris stock exchange. The company’s shares had already lost 64% of their value since the beginning of this year after investors criticized the company’s management for its confused strategy and unexplained disposals. The culmination of all of these events has forced the Vivendi CEO, Jean-Marie Messier, to leave the company.

More Relevant

Technology

ISTEL-ATLANTIC FACILITIES MANAGEMENT VENTURE

Analysis

ZTE launches new Voice and Video over Any-access offering

Analysis

HCL bags SGD110m IT infrastructure deal from SGX

Networks

Disney researchers create algorithm to bring 3D textures to touchscreen

Sign up to the newsletter: In Brief

Your corporate email address *

First name *

Last name *

Company name *

Job title *

Vist our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Thank you for subscribing

View all newsletters from across the Progressive Media network.

Sign up for our regular news round-up!

Sign up for our weekly news round-up!

Sign up to the newsletter: In Brief

I would also like to subscribe to:

Thank you for subscribing