Vivendi considers further assets

December 11, 2001 Posted: 2022 GMT

LONDON (CNN) -- Vivendi Universal is in talks with USA Networks about the possible purchase of the company's entertainment assets. 

Vivendi already owns about 40 percent of USA Networks, which operates news and entertainment cable networks.

However, Paris-based Vivendi denied reports that it could pay as much as $18 billion for the assets. Those reports sent Vivendi falling almost 3 percent in Paris on Tuesday.  

"We can confirm that there have been ongoing discussions between Vivendi Universal and USA Networks, which may or may not lead to a business arrangement or agreement," Vivendi said in a statement.

But the company said that an estimated price range of $13 to $18 billion quoted in the New York Post was "totally absurd, even the lower part of the range."

The company said the discussions will not result in they creation of any new Vivendi Universal shares and any transaction would result in accretion for shareholders.

New York-based USA Networks also has online information, booking and direct-selling assets. It has a market capitalization of about $9 billion.

Vivendi's stock fell 2.7 per cent to 56.40 in Paris.