The supervisory board of French media group Le Monde has voted in favour of entering exclusive talks to sell a majority stake to a consortium of three French businessmen.
The consortium, close to the Socialist Party, consists of Lazard banker Matthieu…
The supervisory board of French media group Le Monde has voted in favour of entering exclusive talks to sell a majority stake to a consortium of three French businessmen.
The consortium, close to the Socialist Party, consists of Lazard banker Matthieu Pigasse, businessman Pierre Berge and Xavier Niel, the founder of ISP Free.
The investors, which reportedly plan to inject E10m before July 5, aim to recapitalise the group and restructure its debt by September 30.
Le Monde needs about E100m to stay afloat.
France Telecom, which had teamed up with Le Nouvel Observateur, withdrew its offer after the Societe des Redacteurs preferred the Pigasse-Berge-Niel consortium.
