Vivendi Universal to sell its stake in Elektrim and ET

French-American media group Vivendi Universal has signed a letter of intent to sell its stakes in troubled conglomerate Elektrim and their mobile phone joint venture, to privately-owned Polish television group Polsat for euro 600 million. The deal comes as Vivendi, which under former CEO Jean-Marie Messier expanded aggressively into Eastern Europe, seeks to cut its debt burden through disposals and follows the sale last week of its Hungarian unit to two US investors. Vivendi owns 49% of Elektrim Telekomunikacja (ET), a joint venture with Elektrim, which itself controls 51% of PTC - the country's largest mobile phone operator, and owner of the Era brand. Neither Vivendi nor Polsat could be reached for comments but, according to industry sources, Polsat may also be seeking financial partners for the transaction. (Puls Biznesu, p.4; Parkiet, p.1; Reuters) J.K