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(From Agence France Presse)
French media giant Vivendi Universal posted a record net loss of 23.3 billion euros (25.6 billion dollars) for 2002 but said it expected to sell seven billion euros in assets this year.
The loss, worse than a 13.6-billion-euro loss in 2001, was the biggest ever reported by a French company, topping one posted Wednesday by France Telecom of 20.7 billion euros.
Vivendi Universal's chairman and chief executive Jean-Rene Fourtou said in a statement: "This result includes in particular asset impairment charges made necessary by the continued deterioration of the markets and the value of some of our assets."