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    VIV   FR0000127771

VIVENDI SE

(VIV)
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Real-time Euronext Paris  -  11:35:12 2023-01-27 am EST
9.906 EUR   +1.18%
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Vivendi-Lagardere deal faces full-scale EU antitrust probe -sources

11/22/2022 | 10:17am EST

BRUSSELS, Nov 22 (Reuters) - Media group Vivendi's proposed acquisition of rival Lagardere is likely to face a full-scale EU antitrust investigation, people close to the matter said on Tuesday.

The proposed deal would combine France's two biggest publishing groups, Lagardere's Hachette and Vivendi's Editis, and has come in for criticism from rivals including Gallimard.

To resolve European Union antitrust concerns, Vivendi's top investor - billionaire Vincent Bollore - would sell all Editis shares he would receive after the transaction, which would consist of a simultaneous distribution of the publishing unit's shares to Vivendi shareholders and its listing.

The move aims to remove the entire overlaps between Vivendi and Lagardere, one of the people said.

It was not impossible that Vivendi may formally offer remedies in a bid to secure approval during the EU preliminary review but the short period of time left for regulators to do their work during this phase was a constraint, the person said.

The European Commission is expected to launch an in-depth investigation after finishing its preliminary review of the deal on Nov. 30, the sources said.

The EU competition enforcer and Vivendi declined to comment.

Vivendi shares fell by as much as 2.5% after the Reuters story was published, but subsequently recovered.

Bollore is Vivendi's controlling shareholder with a 29% stake. The mass media holding company already owns 57% of Lagardere after a bid for all of the group's shares.

Lagardere's assets include flagship magazine Paris Match, weekly newspaper Journal du Dimanche and radio station Europe 1. (Reporting by Foo Yun Chee, additional reporting by Mathieu Rosemain in Paris; Editing by Kirsten Donovan, David Goodman and Alexander Smith)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BOLLORÉ SE 0.29% 5.25 Real-time Quote.0.57%
LAGARDÈRE S.A. -0.19% 21.1 Real-time Quote.5.29%
VIVENDI SE 1.18% 9.906 Real-time Quote.11.13%
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Analyst Recommendations on VIVENDI SE
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Financials
Sales 2022 10 051 M 10 911 M 10 911 M
Net income 2022 361 M 391 M 391 M
Net Debt 2022 1 660 M 1 802 M 1 802 M
P/E ratio 2022 24,7x
Yield 2022 3,19%
Capitalization 9 878 M 10 723 M 10 723 M
EV / Sales 2022 1,15x
EV / Sales 2023 1,11x
Nbr of Employees 34 300
Free-Float 59,7%
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Mean consensus BUY
Number of Analysts 16
Last Close Price 9,91 €
Average target price 12,11 €
Spread / Average Target 22,2%
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Managers and Directors
Arnaud Roy de Puyfontaine Chairman-Management Board & CEO
Franšois Marie Jean Charles Laroze Chief Financial Officer
Yannick BollorÚ Chairman-Supervisory Board
Caroline Le Masne de Chermont Senior VP-Legal Affairs, CSR & Compliance
Katie Jacobs Stanton Member-Supervisory Board
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