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Private equity sponsors and their supporting banks were disappointed this week when the decision on which bidding consortium was close to winning exclusive rights to negotiate the purchase of Vivendi Universal's (VU) subsidiary Vivendi Universal Publishing (VUP), expected on Wednesday September 25, was delayed. Banks and private equity sponsors that have submitted bids - worth anything between Eu2bn and Eu4bn - recognise the potential for a cheap buy of what is essentially a valuable asset and they are eager for the sale to go through quickly.

Vivendi Universal, the embattled French media group, announced this week that it was to accelerate its disposal programme, which it has increased to Eu12bn. On Wednesday Vivendi CEO Jean-René Fourtou finally brought some clarity to the media group's much needed asset disposal plan. Fourtou, who succeeded Jean-Marie Messier as chief executive of the group in July, has laid out plans to sell assets worth Eu12bn, Eu2bn more than previously stated, and to achieve this within 18 months, six months sooner than first indicated.

The equity markets hit new lows this week and there was little respite for the bond markets. The markets rallied on Wednesday and yesterday (Thursday) to end the week on a more positive note, but not before depressing the new issue market, with several deals including EdF, Parmalat and Lafarge being postponed. Depfa Bank will price a reduced $2bn five year covered bond today (Friday) at 10bp-12bp over agencies, but dollar issuance will be light during the next two weeks due to a Chinese holiday.

It has not been a happy month for banking chief executives. Michael Carpenter was pushed aside at Salomon Smith Barney as the Jack Grubman factor threatened to turn into a tidal wave and overwhelm the entire firm. Then Credit Suisse finally summoned up the courage to oust Lukas Mühlemann and we have looked further into developments at CS later in these columns. Now the departure of Leonhard Fischer at Dresdner Kleinwort Wasserstein makes it three CEOs in a row - that certainly confirms the dire state of the industry.

The new Wembley Stadium project has reached financial close. The transaction was signed on Wednesday and announced yesterday (Thursday). The total project cost is set at £757m, of which some £426.4m will be funded in the form of senior bank debt.

Rating: Aa3/AA- Amount: $500m

Rating: Aaa/AAA Amount: $2bn global Pfandbriefe

Rating: Aa3/A Amount: Nkr600m

Barclays Capital has underwritten the senior debt facilities backing Duke Street Capital's £66m acquisition of Thornbury Nursing Services. Intermediate Capital Group has underwritten a £10m mezzanine facility.

Deutsche Börse has shut down the Neuer Markt, the embattled high growth market segment, following its 95% slump over the last two years. The move comes as part of a new model for Deutsche Börse, under which the current system will be replaced by just two segments - Domestic Standard, and Prime Standard

Rating: Aaa/AAA Amount: $2bn (fungible with $3bn issue launched 15/07/02)

The equity markets hit new lows this week and there was little respite for the bond markets. The markets rallied on Wednesday and yesterday (Thursday) to end the week on a more positive note, but not before depressing the new issue market, with several deals including EdF, Parmalat and Lafarge being postponed. Depfa Bank will price a reduced $2bn five year covered bond today (Friday) at 10bp-12bp over agencies, but dollar issuance will be light during the next two weeks due to a Chinese holiday.