VIVENDI (France) has sold its activities in the service sector in Spain to the Spanish construction group FCC -FOMENTO DE CONSTRUCCIONES Y CONTRATAS- for ESP 43 billion. The subsidiaries created are SOCIEDAD MEDITERRÁNEA DE AGUAS (water management and processing), TRISA and IPODEC RISCOP (special waste management) and ZABALGARBI (waste incineration and energy production). The two partners will also create a joint venture in Latin America specialised in water and waste management. PROACTIVA MEDIO AMBIENTE will have equity capital of ESP 32.6 billion, will employ 13,000 and is expected to have pre-tax profits of ESP 2 billion. Lastly, the two groups are considering the creation of a subsidiary active in telecommunications that would be listed on the stock exchange.