Under the terms of the loan, Vivendi has no voting rights, but retains financial exposure. The news of the talks between Vivendi and USA Networks also saw the DJ Stoxx pan-European index lose 2.3% amid fears that Vivendi may overpay for USA Entertainment. However, Messier has dismissed reports that he could end up paying between £9bn and £12bn for the division. If you have an opinion on this or any other issue raised on Brand Republic, join the debate in the Forum here.