2023-08-01 16:49:00
The procedure was a sword of Damocles over Vivendi. It was finally confirmed by the European Commission, which announced the opening of a formal investigation for “possible violation of the notification obligation, the suspension obligation and the conditions and obligations” in connection with the takeover of the Lagardère group by Vivendi, she said in a press release at the end of July. On June 9, the European Commission authorized the takeover of the media group by the other French publishing and media giant.
But quickly, the Commission suspected the group of not having waited for its green light to launch the operation, which is contrary to the rules of the European Union. These practices are even punishable by a fine of up to 10% of turnover.
“Our ex ante merger control regime requires companies to notify operations with a European dimension and to wait for our authorization before carrying them out. In addition, companies must respect the undertakings they submit to us, on the basis of which we authorize a transaction. We take any violation of these procedures very seriously.”
“At this stage, the Commission has collected enough elements to open a formal investigation procedure aimed at determining whether Vivendi has complied with our procedures”writes, on July 25, Margrethe Vestager, the executive vice-president in charge of competition policy on the website of the Commission.
Media concentration is accelerating
In the line of fire in particular, the question of the concentration of the media which currently takes place in the sector. However, the NGO Reporters Without Borders (RSF) had pointed out in particular ” 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 », And this, before the green light for the takeover.
This investigation announced at the end of July is separate from the takeover procedure, specifies the Commission.
To receive the green light for the takeover, Vivendi had to agree to sell its publishing giant subsidiary Editis, as well as the magazine Gala, to Czech businessman Daniel Kretinsky. The transaction should be finalized by the end of the year.
Takeover of Lagardère: Vivendi under threat of a fine for not having waited for the opinion of the European Commission
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