Sumary of Vivendi paves way for Lagardere takeover, adding to media empire:
- Last year he brought in investors like Vivendi and luxury goods tycoon Bernard Arnault when he was trying to fend off an activist campaign by Amber.
- As well as travel retail operations and a publishing business, which includes the Hachette label, it still has influential media assets which Bollore and Arnault have lusted after, sources close to the matter have said previously.
- These include Paris Match, the Journal du Dimanche weekly newspaper and Europe 1 radio station, which has already built bridges with Bollore’s CNews TV channel, a network that has been topping ratings since taking a conservative turn.
- ANTITRUST The Amber stake sale could take months to close and requires regulatory authorisations first, including from the European Union, but Vivendi said it would launch an offer at the same price once it had clinched the 45%.
- Any subsequent takeover would also have to overcome potential antitrust problems in other areas, as Vivendi also has a publishing business, Editis.
- LVMH boss Arnault, initially caught in a tug-of-war over Lagardere, has largely withdrawn from the battle.
- He now has an 11% stake in Lagardere and has cut financial ties with the firm’s heir and chief executive, Arnaud Lagardere, after initially investing in his holding company.
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