French media conglomerate Vivendi has denied reports that it is interested in – or has bid on – Lagardere, a compatriot media group. This closely follows a report – and denial – last week, that Vivendi had its sights trained on…
French media conglomerate Vivendi has denied reports that it is interested in – or has bid on – Lagardere, a compatriot media group. This closely follows a report – and denial – last week, that Vivendi had its sights trained on UK-based Sky.
What has materialised is progress on the sale of video website Dailymotion, where Vivendi is in exclusive talks to buy an 80% stake from incumbent Orange for €217m. Announcing that development, the two French giants described the transaction as forming an incipient telecoms and media partnership.
The Vincent Bollore-led company is at the centre of dealmaker attention, thanks to the €15bn it will have reaped from the sales of telecom businesses in France, Morocco and Brazil in 2014/2015 and also video games unit Activision in 2013.
Bollore, who recently increased his stake in the group to 14.5%, has spoken of acquisitions to bolster the remaining Canal Plus and Universal Music Group businesses, but has not specified where these are likely to take place.
