Vivendi Universal, which for months has been the subject of various lawsuits and securities' regulators enquiries, has instituted legal proceedings against l'Association des Petits Porteurs Actifs (Appac), a French minority shareholders' association.

Meanwhile, Vivendi has stepped up its disposal programme with the sale of its 34% stake in Sithe Energies, a US power generation company, for $323m (€323m) in cash to Apollo Energy.