Vivendi preparing fresh effort to sell Activision shares?

French media giant Vivendi could once again be preparing to try and sell its interest in Activision.

The Wall Street Journal reports that following confirmation of its profits decline earlier this week, Vivendi CFO Philippe Capron confirmed the company’s consideration of a variety of options” regarding Activision Blizzard.

"The board continues to review a variety of different options, looking at ways to optimize the balance sheet," he stated. "There is a process going at the board level."

Vivendi’s Q1 income fell 24 per cent to €534m with adjusted earnings falling 17 per cent to €1.34bn. Revenue dropped one per cent to €7.05bn. Activision Blizzard provided the best returns from Vivendi’s many empires with revenue climbing 12.2 per cent to €1bn.

There is even talk that Activision itself could use its swelling cash piles to buy back Vivendi’s 60 per cent stake. Indeed, this would tie in with rumours from a year ago that Bobby Kotick himself was preparing to front an MBO.

Activision and Vivendi merged in 2007. Talk of a possible split first cropped up in late 2011 after Vivendi reduced its stake in the publisher.