PARIS (Reuters) – Vivendi wants to keep Lagardère, whose takeover it has just finalized, listed on the stock market, its chairman of the supervisory board, Yannick Bolloré, said on Tuesday.
“We want (…) to leave Lagardère listed on the stock exchange: the challenge for us is to maximize the value for all stakeholders, including investors,” he explains in an interview with Le Figaro alongside ‘Arnaud Lagardère.
“Lagardère will remain an independent and autonomous subsidiary,” adds Yannick Bolloré.
The manager also indicates that Vivendi will retain Lagardère’s specialized “travel retail” distribution activity.
“We want to keep it, it’s a key element of growth for us,” he told Le Figaro.
In order to get its hands on Lagardère, Vivendi had to sell the publishing house Editis to Czech businessman Daniel Kretinsky and the magazine Gala au Figaro.
The operation nevertheless remains subject to an investigation by the European Commission aimed at determining whether Vivendi could have finalized the acquisition of Lagardère without waiting for the green light from the European regulator.
“We have respected European rules and we are confident and in good faith,” indicates Yannick Bolloré, adding that the group has not provided for a possible fine, which could reach up to 10% of its turnover.
(Written by Blandine Hénault, edited by Kate Entringer)
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