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Vivendi requests investigation into surge in trading volumes

Vivendi Universal has asked the Commission des Opérations des Bourses (COB), the French securities regulator, to investigate a surge in trading volumes in its shares the day before it announced a surprise convertible bond issue.

The French media and utility group sold a €885m ($887m) mandatory convertible on November 14, which surprised the market because Vivendi already has several equity-linked issues outstanding.

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