Vivendi is now looking to sell Brazilian broadband firm GVT which could be worth up to 8.5 billion euros, in a forced move after the French giant was unable to find a buyer for Call of Duty publisher Activision.
However, sources have indicated that another option being explored is for Activision itself to buy out Vivendi's 60 per cent stake in the firm.
Activision is said to have hired JP Morgan and Allen & Co to offer advice.
It's believed that Activision execs including CEO Bobby Kotick are interested in such a deal, but raising enough money to fund the deal may be tricky. Reuters states that the video game goliath would need to raise around $5 billion in debt to finance the deal or partner with a private equity fund.