The Lagardère LAGA.PA group announced on Tuesday that it had received a purchase offer from luxury giant LVMH LVMH.PA concerning the Paris Match newspaper.
The group’s board of directors decided on February 27 to begin exclusive discussions with LVMH, it said in a press release.
As part of its plan to buy Lagardère, Vincent Bolloré’s Vivendi VIV.PA group made a commitment to the European competition authority to sell the Gala magazine, presented as a competitor to Paris Match.
(Writing by Lina Golovnya, editing by Tangi Salaün)