PARIS: French media and telecoms conglomerate Vivendi Universal has reported flat third quarter sales growth due to poor performance by its domestic cellphone operator French SFR and its music business.

The company, whose stable includes Universal Music and pay-television channel Canal+, says sales for the three months to September 30 were €4.88 billion ($6.22bn; £3.26bn) from €4.87bn a year ago and below analysts' expectations.

The company, which has just rejected a buyout offer from US private equity firm Kohlberg Kravis Roberts [WARC News: 07-Nov-06], says the decline has been largely caused by lower prices imposed by the French telecoms regulator.

Data sourced from Washington Post Online; additional information by WARC staff