Vivendi Buys Stake in Lagardère


Vivendi has acquired a 10.6 percent stake in the French media conglomerate Lagardère.

The move follows Vivendi’s recent sale of 10 percent of its 100 percent share capital of Universal Music Group (UMG) for a value of €30 billion.

The Canal+ owner said that the acquisition is a “long-term financial investment reflecting Vivendi’s confidence in the future prospects of the French group, which enjoys international leadership positions in its businesses and which, like many others, is experiencing difficult times at the moment.”