EU antitrust regulators approve Vivendi, Lagardere deal (updated)

Television Francaise 1 SA

09/06/2023 16:47

(Adds quotes by commissioner Vestager in 4th and 5th paragraph,
background in 2nd and 7th paragraph)
       BRUSSELS, June 9 (Reuters) - Billionaire Vincent
Bollore-controlled French media conglomerate Vivendi  VIV.PA  on
Friday won conditional EU antitrust approval for its acquisition
of France's largest publisher Lagardere  LAGA.PA .
    Vivendi last year announced the deal which would give it
control of Lagardere's flagship weekly publications Journal du
Dimanche (JDD) and Paris Match.
    The European Commission, which acts as the competition
enforcer in the 27-country European Union, said Vivendi agreed
to sell its publishing unit Editis and celebrity magazine Gala
to address regulatory concerns about the deal.
    "We need to make sure that the book publishing and press
markets remain competitive and diversified, to foster a
plurality of ideas and opinions," EU commissioner Margrethe
Vestager said in a statement.
        "The remedies proposed by Vivendi will allow for the
preservation of existing competition in those markets, to the
benefit of consumers."
  
    Reuters reported in April that the remedies were sufficient
to help Vivendi gain EU antitrust clearance for the acquisition.
    Vivendi in April struck a deal to sell Editis to a company
owned by Czech billionaire Daniel Kretinsky, who already has
stakes in France's Le Monde newspaper, supermarket company
Casino  CASP.PA  and TV group TF1  TFFP.PA .

 (Reporting by Foo Yun Chee, editing by Bart Meijer and Louise
Heavens)
 ((foo.yunchee@thomsonreuters.com; +32 2 585 2866; Reuters
Messaging: foo.yunchee.thomsonreuters.com@reuters.net))