Canal + and France Telecom have completed their negotiations for Canal’s 33.3% partcipation in the premium channels Orange Cinema Series, according to Les Echos.
The negotiations, which had begun several months ago by the two groups, were concluded just before the weekend.
Just last week, news broke that Vivendi might pull out of the deal due to sanctions imposed by the European Commission.
However, now the deal is signed it is likely that it includes a clause that the agreement can be cancelled if the restriction by the EC are deemed to be too severe.
Last July, Canal + and Orange had indicated that the respective holdings in Orange Cinema Series are 66.66% for Orange and 33.33% for the Canal + Group and that its governance would be achieved by both partners in proportion to their percentage holding.
