Vivendi in talks over Canal Plus France ownership
Paris-based media giant wants to own pay-TV firm entirely
Paris-based Vivendi owns 80 per cent of Canal Plus France, the country’s biggest pay-TV company.
Vivendi, the French conglomerate selling assets to refocus on media businesses, is in talks with Lagardere to find an agreement for the ownership structure of their jointly owned television unit Canal Plus France.
Lagardere, a French media company, disclosed the talks in a statement. Paris-based Vivendi owns 80 per cent of Canal Plus France, the country’s biggest pay-TV company, and has said it wants to own the unit entirely after years of disagreement between the two companies. Lagardere owns 20 per cent.
By buying Lagardere’s stake, for an estimated €1 billion to €1.2 billion, Vivendi would resolve “a rather troublesome relationship” and boost its earnings per share 5 per cent, Liberum Capital Ltd analysts said in a note.
A Vivendi official declined to comment. – (Bloomberg)