More on Vivendi-Universal's woes

[Saint_Proverbius]

<strong>[Company -> Update]</strong>

<b>On The Bounce</b> passed along this <A href="http://www.msnbc.com/news/796134.asp?0bl=-0">news item</a> stating that <a href="http://www.vivendiuniversal.com/">Vivendi-Universal</a> nearly filed for banckrupcy last month. Instead, they worked out a deal with their banks to finance <b>$1.97 billion</b> of their debt. Here's some more juice:<blockquote>Fourtou said he was confident the company would pull through its financial crisis.“We will get through this difficult period, but at a cost: high interest rates, restrictions on secured assets, an absolute necessity quickly to push through the program of asset sales,� Fourtou wrote.<Br>Vivendi shares rose nearly 8 percent on the Paris stock exchange Monday.Fourtou admitted Vivendi’s financial situation was “tense�, but said he had “identified the way out of this crisis�.</blockquote>Also of note, their stocked dropped 42% last week alone. It's currently at <b>$11.11/share</b>.