Vizzavi future put in serious doubt

The future of Vizzavi - the £1bn (€1.56bn) internet joint venture between Vivendi Universal and Vodafone Group PLC - was uncertain this weekend as the cash crisis at Vivendi worsened and the online group was forced to appoint an emergency chairman, it was claimed today.

As Vivendi's shortfall in its short-term cash reserves reaches €3bn euro there is serious doubt about its ability to fund its share of Vizzavi's substantial cash requirements, the paper said.