Vizzavi future in doubt

NEWS The future of Vizzavi - a joint venture between Vivendi Universal and Vodafone - hangs in the balance following reports its French backer is about to pull funding for the loss-making portal. After posting a E12.3bn first half loss this week, Vivendi is unlikely to want to spend much more on the venture. Vodafone was known to be waiting to see what Vivendi would do next. The companies had earmarked an additional E600m for the company. This morning's FT quotes "one person familiar with the business", saying: "Vizzavi has clearly not been a success and Vivendi is not putting any more cash in." Vivendi also this week said it is looking to raise E10bn through disposing of assets.