Vivendi is exploring the sale of its 53% stake in Morocco's largest telecoms operator, Maroc Telecom, the Financial Times reported on Monday.

The newspaper, citing people with knowledge of the situation, said Vivendi was in discussions about hiring bankers from Credit Agricole and Lazard to gauge interest in the stake, which could be worth more than 4 billion euros.

The French media-to-telecom conglomerate is reviewing its portfolio of businesses and strategy in a bid to cut debt and revive its flagging shares.

Brazilian broadband specialist GVT has been seen as top of the list of assets to be sold.

Vivendi earlier also shopped around its video games unit Activision but is believed to have put the sale on hold after bids were inadequate.

The FT also cited industry sources as saying Vivendi had received "highly preliminary" interest in its French telecoms business, SFR.