France's Vivendi latest to bid for Dailymotion
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The French media group Vivendi made an offer of 250 million euros on Monday to buy a stake in Dailymotion, the French video-sharing platform and YouTube rival.
Vivendi’s offer is to be debated on Tuesday at Orange’s special executive board meeting.
Orange said it was “not in exclusive talks with anyone” although the idea of finding a European solution is favoured by the French government - and France owns a 24.9 per cent stake in Orange.
Hong Kong’s telecommunication company PCCW Group made an offer in mid-March for the 49 per cent stake, valuing it at 250 million euros including debt.
But on Monday PCCW withdrew its bid arguing that “the desire of the French government to encourage the search for a European solution discourages participation of international companies”.
It’s not the first time the French government is involved in talks over Dailymotion.
In 2013, France’s minister of industrial renewal Arnaud Montebourg blocked a bid by US-based Yahoo of 277 million euros.
Orange has owned Dailymotion since 2012 and is looking for a partner to ensure its development outside Europe.