Lagardère CEO Arnaud Lagardère has said the company is prepared to, if necessary, buy Canal+ France’s remaining 80% stake in Vivendi before holding an IPO “on favourable terms”.
Vivendi says it will vigorously contest a claim by Lagardère that a cash management agreement between Canal+ France and parent company Canal+ Group should be treated as null and void.
WATCH VIDEO. Google’s YouTube has launched 13 partner channels aimed at the French market.
Lagardere has spoken publicly about its failure to buy the long-established Czech music channel Ocko.
The long-established Czech music channel Ocko may soon find itself under new ownership.
Canal+ SA has announced that it requested NYSE Euronext to suspend trading of its shares for Thursday 17 and Friday, February 18, 2011.
The French media group Lagardere wants to sell its 20% stake in Canal+ France, which is estimated to be worth around €1.4 billion. Vivendi SA, which owns the remaining 80%, has said it would like to buy the stake.