Media buyout would crown Bolloré’s empire-building
23/11/2023 10:14
(The author is a Reuters Breakingviews columnist. The opinions
expressed are his own.)
By Pierre Briancon
LONDON, Nov 23 (Reuters Breakingviews) - The tycoon’s
purchase of Hachette owner Lagardère is a smarter bet than his
Italian foray. It offers good returns and will keep buyer
Vivendi flush with cash. Using the funds to take the 9 bln euro
media group private would square Vincent Bolloré’s M&A circle.
Full view will be published shortly.
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CONTEXT NEWS
French media conglomerate Vivendi said on Nov. 21 that it
had finalised its takeover of retail and publishing
group Lagardère after closing the sale of two assets to comply
with European Union antitrust regulators’ demands.
The sale of Vivendi’s publishing arm Editis to IMI, a media
holding belonging to Czech billionaire Daniel Kretinsky, was
concluded on Nov. 14, the group said. Vivendi sold on Nov. 21
its celebrity magazine Gala, a rival to Lagardère’s Paris Match,
to the parent company of French daily Le Figaro.
Vivendi launched its takeover offer of Lagardère in
September 2021.
(Editing by Lisa Jucca and Streisand Neto)
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