Vivendi refuses offer for VU Games

It looks as though VU Games is most definitely not for sale. Earlier today, the French financial daily Les Echos reported that a "company in the games sector, allied with a financial investor," offered VU Games' parent, Vivendi Universal, between $700 and $900 million in cash for the Half-Life 2 publisher. Then, this afternoon, Agence France-Presse (AFP) reported that Vivendi had passed on the offer. The markets endorsed the news as a sign of Vivendi's faith in VU Games, and its shares rose 1.46 percent to 17.37 euros.

Had Vivendi accepted the offer, it would have been a very public about-face for the company. Just last week, Vivendi's chief operating officer, Jean-Bernard Levy, said Vivendi was retaining VU Games through the holiday season. This echoed CEO Jean-Rene Fourtou's September comments that Vivendi was considering expanding VU Games.