The CEO of French incumbent Orange, Stephane Richard, met Richard Li, chairman of Hong Kong-based telecoms group PCCW, yesterday to discuss a potential investment in Dailymotion, according to French publication Challenges.
Orange owns 100% of the…
The CEO of French incumbent Orange, Stephane Richard, met Richard Li, chairman of Hong Kong-based telecoms group PCCW, yesterday to discuss a potential investment in Dailymotion, according to French publication Challenges.
Orange owns 100% of the France-based video-sharing website and has been seeking to find a minority partner in an attempt to challenge Google’s YouTube internationally, particularly in the US.
Last year, the French government, which owns just over 27% of the French telco, blocked a potential 75% stake sale to US internet giant Yahoo.
However, after a government reshuffle earlier this year, Richard reportedly now has greater leeway to bring in a foreign investor in Dailymotion. A couple of weeks ago, he met with Microsoft CEO Satya Nadella although the US company does not consider the French online company as one of its priorities, according to reports.
PCCW is seen as good fit for Dailymotion as the Hong Kong group not only has telecoms assets, via HKT, but also broadband internet and pay-TV operations.
Orange originally bought a 49% stake in Dailymotion in 2011 for €62m before buying the remaining shares in 2013 for €61m.
