Vivendi speeds up times, launch of an Opa on Lagardère by February 2022

Vivendi speeds up the times and announces the launch of the takeover bid on the Lagardère group by February 2022. The group owned by the Breton financier, Vincent Bolloré, which initially aimed to launch the operation by December 15, 2022, has therefore decided to tighten the time by announcing today the acquisition “in the next few days” of 17.5% of the Lagardère group held by the Amber Capital fund, thus increasing the share capital of the group led by Arnaud Lagardère from 27% to 45.1%. By taking over the Lagardère group, Bolloré strengthens its media empire by taking control in particular of the transalpine radio ‘Europe 1’, the ‘Journal du Dimanche’, the magazine ‘Paris Match’ and the publishing house Hachette. These brands will be added to Vivendi’s assets including Canal +, the all news channel Cnews and the Editis publishing house. For Vivendi, however, it is not yet a downhill road. For the group owned by Bolloré, in fact, it will still be necessary to obtain the green light from the Antitrust and the go-ahead from the French Audiovisual Superior Council (CSA). With the acquisition of Lagardère, in fact, Vivendi will find itself the owner of both its subsidiary Editis and of Hachette, which are the two giants of the publishing and book distribution sector in France. According to some observers, the overall market share in France of Hachette and Editis would represent 71% in school texts, 63% in dictionaries and 54% in paperbacks. The Antitrust Authority will most likely ask Vivendi to sell some assets, particularly in France. Anticipating the times for the launch of the takeover bid on Lagardère, writes ‘Le Monde’, “Vincent Bolloré may have decided to close his business before his retirement scheduled for February 17, 2022”. At nearly 70 years old, writes the French newspaper, “the Breton businessman seems to show that he intends to put his affairs in order before leaving Vivendi’s prestigious offices located on the Avenue de Friedland, Paris, in 2022”. Bolloré, in fact, “has promised, for the 200th anniversary of the Bolloré group, to give way to his children”.