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Vivendi's $8.2 billion sale was all set to go before a shareholder filed suit requesting a vote on the matter.
Game giant Activision Blizzard is taking back the firm's controlling stake in deals worth more than $8 billion.
The company, which owns an $8.1 billion stake in Activision, has tried to get Microsoft to bite, but so far, has failed.
The deal for the 44 percent of the French mobile operator that Vivendi doesn't already own is valued at $11.3 billion.
Company to buy Vivendi's 20 percent stake in NBC Universal for roughly $5.8 billion, making way for Comcast to acquire NBC Universal, according to the Journal and the Times.
The Vivendi-Activision merger is being heralded as a great move in video games, but according to Don Reisinger, this deal couldn't be worse for gamers.
Vivendi, which owns the world's largest music group, rejects the offer despite its $2 billion premium, the Financial Times reports.
Television network of GE and Vivendi plans to collaborate with advertisers to create online programs with commercial products built into the story lines.
The video game company, whose titles resemble Zynga's FarmVille, is selling four of its games, using the profits to help fund its ambitions to make more.
The company can now buy back Vivendi's shares without holding a shareholder vote on the matter.