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30 Aug 2002
Vodafone has finalised the terms of its €142.7m (£90m) cash buy out of French media giant Vivendi's stake in mobile internet content group Vizzavi.
The UK-based operator now owns all of Vizzavi, with the exception of Vizzavi France which is now wholly owned by Vivendi.
Vizzavi was co-founded by the two companies with a €1.6bn (£1.01bn) investment plan in January 2000. It lost €400m (£254m) last year.
Vodafone said in a statement that it will continue to focus Vizzavi's operations on providing multi-media, entertainment-led consumer content.
The operator will use Vizzavi's mobile content and information services and its content partnerships to beef up the launch of its new Vodafone Live! service later this year.
The deal marks the end of Vivendi's ambition to become a pan-European web-based provider of content and entertainment services to mobile phone users.
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