Vivendi Universal has decided to use its internal mergers and acquisitions banking team for the disposal of Vivendi Games, rather than award the mandate to outside advisers.

The decision, which will be a bitter blow to deal-starved investment bankers, came after Vivendi listened to presentations from investment bankers pitching for the mandate. According to senior banking sources, the company then concluded that it had the necessary in-house expertise to make the disposal without using external advisers.