(News Bulletin 247) – The media group announced on Tuesday that it had entered into exclusive negotiations with a subsidiary of the Czech businessman’s holding company. This operation should allow him to finalize the takeover of Lagardère.

Vivendi has changed its tune. As BFM Business announced on Monday, the media group has finally decided to sell 100% of its publishing company Editis, whereas it previously intended to carry out a “listing-distribution” operation, by listing Editis on the stock exchange via a distribution of securities to its shareholders.

Vivendi, with a view to this sale, has set its sights on the Czech businessman Daniel Kretinsky, owner of several press titles in France, such as She And Marianne.

Vivendi thus announced on Tuesday that it had entered into exclusive negotiations with International Media Invest, a subsidiary of Czech Media Invest, the holding company of Daniel Kretinsky.

As BFM Business pointed out, the latter acted as a favorite among the contenders for the takeover of Editis. In addition to Daniel Kretinsky, there were also the Italian publisher Mondadori, the French media company Reworld and the Canadian Québécor.

A green light from Brussels to pick up

No amount has been disclosed by the company regarding this potential transaction.

This 100% sale should make it possible to obtain the approval of the European Commission for the takeover of Lagardère by Vivendi.

Brussels opened an in-depth investigation in November, because this operation would theoretically lead to the marriage of two major publishers, namely Hachette (Lagardère) and Editis (Vivendi). Brussels fears several competition problems, in terms of copyright purchases, distribution, sales to retailers of books in French, as well as the sale of “people” magazines.

To allay the Commission’s fears, Vivendi initially intended to get rid of Editis via, therefore, the “listing-distribution” operation mentioned above. But the European Commission did not appreciate this arrangement, requiring the group to sell 100% of Editis.

During the presentation of Vivendi’s annual results last week, the chairman of the management board, Arnaud de Puyfontaine, indicated that the company was working on “different alternatives”, with the ultimate goal of obtaining the green light from the European Commission to acquisition of Lagardère. The leader then explained that the verdict from Brussels was expected by the end of May.