Vivendi looks to sell off Express-Expansion group

LONDON - Media giant Vivendi Universal is secretly considering the sale of its Express-Expansion publishing group, in a bid to deal with massive debt and cash flow problems.

Vivendi looks to sell off Express-Expansion group

The group includes 16 titles including the famous French news weekly and Time magazine equivalent, L'Express, and the monthly finance and economics magazine, L'Expansion.

The magazines are the latest in a growing list of assets being considered for sale, after new chief executive Jean-Rene Fourtou stated that he planned to sell assets worth at least €10 bn in order to solve the Franco-American media giant's financial problems.

The sale of L'Express could have political ramifications, as happened five years ago when Socialist politicians intervened to stop the sale of the magazine to the Dassault arms group.

Dassault is the biggest shareholder in the centre-right newspaper Le Figaro and politicians feared a shift to the right for L'Express, and halted the sale.

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