Vivendi weighs up $700m AOL stake sale

Vivendi is close to selling former partner AOL its share in AOL France for $700m.

Sources close to the deal say AOL Time Warner will pay either stock or cash for the 55 per cent stake that Vivendi holds. The Paris-based company originally tried to swap its stake in AOL France for a stake in AOL Europe last year, but when talks broke down it decided to sell the stake. Since Vivendi purchased Seagram last year it has been one of AOL's largest competitors.