Orange to keep Dailymotion share

dailymotionIn an interview with Le Figaro France Telecom Orange has said it is looking for a strong partner in Dailymotion.

Stéphane Richard, CEO, Orange, said the operator wants to remain a shareholder in the video web portal, but is looking for a partner to boost its US viewing figures. The interview follows recent report that Yahoo is looking to buy a controlling stake in the site.

“I have no intention of giving up Dailymotion,” said Richard, “I am very pleased with this investment, I personally supported it at a time when shareholders wanted to dispose of Dailymotion. What we now need is to give Dailymotion ways to accelerate its development, in particular in the United States, to compete with YouTube. It is not a question of money, but of industrial partnership. In full agreement with the management Dailymotion, we are looking for partners.”

Last week the Wall Street Journal revealed that Yahoo! is looking to take a 75% stake in the French video portal. The transaction would value Dailymotion around $300 million (€231 million).

Orange owns all of Dailymotion since January. The operator spent €66 million in 2011 to buy 49% and has exercised an option to purchase the remaining 51%, for a total of €127 million earlier this year.