2023-06-16 12:46:00
Red card for Vincent Bolloré? While his company Vivendi is regarding toabsorb its former rival Lagardère and that this takeover was authorized by the European Commission on June 9, things are getting tough for the publishing and media giant.
Indeed, the European Commission suspects the group of not having waited for its green light to launch the takeover operation, which is contrary to European Union rules and punishable by a fine.
« Regarding the Vivendi/Lagardère file, the Commission has been informed of allegations of early takeover (gun jumping), reported in the press. The Commission can confirm that it is examining the matter “, said a spokeswoman to AFP, without giving more details, stressing that it was not at this stage a formal investigation. However, if a merger with a European dimension is implemented before obtaining the green light from the Commission, which monitors respect for competition in the EU, the latter can impose fines of up to 10% of the turnover. total business achieved by the companies concerned.
Reporters Without Borders calls on the EU to be more careful with Vivendi
The NGO Reporters Without Borders (RSF) called for an in-depth investigation.
« Given the many signals attesting to Vincent Bolloré’s growing influence over the Lagardère group’s media even before the validation of the takeover, it is surprising that an investigation for an early takeover was not launched earlier. “, estimated the secretary general of RSF Christophe Deloire. The NGO points out ” the significant changes that have taken place, particularly in the editorial staff of the Journal du Dimanche (JDD) and even more significantly in Paris Match ».
Vivdendi forced to sell Editis and Gala to absorb Lagardère
After three years of fierce arm wrestling, Vivendi, the group of billionaire Vincent Bolloré, was authorized at national and European level to absorb its former rival Lagardère. But the transaction will only take place on two conditions: Vivendi must sell its subsidiary Editis, a publishing giant, as well as the magazine Gala. The operation should be finalized by the end of the year, and it would take the publishing and media giant into a new dimension, with increased international weight. The group also announced on Friday that it had reached an agreement to sell 100% of its publishing subsidiary Editis to Czech businessman Daniel Kretinsky. This sale, announced in a press release without specifying the amount and which must take place no later than (…) beginning of October ».
The assignments requested from Vivendi are intended to prevent possible anti-competitive practices. Brussels feared that the operation, as initially planned, ” harms competition » in publishing throughout the book value chain, where Editis and Hachette share certain segments almost alone, as well as in the magazine press, where Lagardère is well established with the weekly Paris Match. Editis, acquired in 2019 by Vivendi, is none other than the French number two in publishing. We find in its pavilion big names like Robert Laffont, Nathan, Le Robert or Pocket. Lagardère owns the world’s third largest publisher, Hachette Livre.
Vincent Bolloré and his children, who control Vivendi and its cascade of holdings, had agreed in the summer of 2022 to offload Editis. The group has also pledged to sell the weekly celebrity news Galawhich is on the same information segment as Paris Match. The title ” has already been the subject of many expressions of interest », according to Vivendi. The company hopes to finalize both operations by the end of October.
(With AFP)
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