Lagardere In Talks With US Fund For Canal Plus France- Report
December 21 2011 - 5:55AM
Dow Jones News
French media group Lagardere SCA (MMB.FR) is currently
negotiating the sale of its minority stake in French television
company Canal Plus France to a U.S.investment fund, French daily La
Tribune reports Wednesday without naming its source.
The newspaper said, according to some sources, the company in
talks with Lagardere is the private equity firm Hellman &
Friedman, which specializes in media.
In September, Arnaud Lagardere general managing partner of
Lagardere said he will sell minority stakes in non-core businesses,
notably his 20% interest in Canal Plus France.
The company previously intended on floating its stake in Canal
Plus France but waived its plans due to market jitters.
La Tribune also said French entertainment-to-telcommunications
giant Vivendi (VIV.FR), which holds an 80% stake in Canal Plus
France, is in talks to buyout Lagardere's interest in the company,
however "the negotiations have not gone far".
Lagardere wasn't available for comment on the report.
Newspaper Web site: http://www.latribune.fr
-By Paris Bureau, Dow Jones Newswires; 33-1-4017 1740
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