Vivendi : Raises Its Stake in Spanish Media Group Prisa to 9.9%

By Olivia Bugault

Vivendi SE said Monday that it is increasing its stake in Spanish media conglomerate Prisa to 9.9%.

"Buying shares in Prisa is part of Vivendi's ongoing strategy to become a global leader in content, media and communications, while extending its access to the Spanish-speaking markets in Europe, Latin America and US Hispanics," the French media giant said.

Vivendi said its move comes after the company acquired a 7.6% stake in its rival on Friday.

Write to Olivia Bugault at [e-mail]

Corrections & Amplifications

This article was corrected on Feb. 15, 2021 because the original version misstated Vivendi SA instead of Vivendi SE.

(END) Dow Jones Newswires

01-25-21 0234ET