By Sonya Rabbitte, 10 July 2002 11:00
NEWS Vivendi shares fell almost seven per cent this morning after French stockmarket regulators raided the company's Paris headquarters overnight. Shares tumbled 6.66 per cent to E17.09 (£11) by 10:15(BST). The Commission des Operations de Bourse (COB) is searching for financial statements from 2001 to determine if Vivendi disclosed accurate financial results. UK software firm Sage also continued its fall today, dropping a further 2.89 per cent to stand at 143p by 10.20(BST). Analysts yesterday said the company must change the way it accounts for depreciation of assets. The company is thought to be the only technology company in Europe that refuses to depreciate goodwill at a pre-determined annual rate.
In order to post a comment you need to be registered and logged in.
Log in or create your silicon.com account below