FT: Vivendi Looks at Plan to Avoid $2 Billion in Taxes

Authored by Mark Hefflinger on May 5, 2003 - 8:09am.

Paris -- Vivendi Universal is studying a plan to sell and buy back parts of its U.S. entertainment business to avoid U.S. tax liabilities of up to $2 billion, according to a report in Monday's Financial Times. The idea of a sale and repurchase is an effort to avoid break-up liabilities Vivendi would face if it split up the subsidiary combining Universal Studios, television and theme park assets. U.S. tax authorities and regulators would probably not endorse such a scheme. Vivendi declined to comment on the FT report.
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