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Vivendi boosts ownership stake in Lagardere to 55%, extends offer until June 9

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© Reuters. FILE PHOTO: A Vivendi sign is seen at the company’s headquarters in Paris, France, April 8, 2015. REUTERS/Gonzalo Fuentes

PARIS (Reuters) -Vivendi’s take over of publishing group Lagardere succeeded, France’s financial watchdog AMF said on Wednesday, adding that Vivandi had managed to acquire around 55.4% of Lagardere’s share capital, but not yet secured a voting rights majority.

The tender offer, which officially ended last Friday, will be re-opened from May 27 to June 9, the AMF said, leaving a window open for the company controlled by the billionaire Bollore family to raise its stake in Lagardere.

As of May 20, Vivendi (EPA:VIV) holds 45.9% of voting rights, the AMF said, but added that in accordance to the terms of the takeover and antitrust rules, Vivendi will only use 22.50% of its voting rights until the takeover is officially cleared by regulators.

The acquisition means Vivendi, which already owns pay TV group Canal+ and right-leaning news channel CNEWS, will gain financial control over Lagardere’s flagship magazine Paris Match, weekly newspaper Journal du Dimanche and radio station Europe 1.

Vivendi’s takeover of Lagardere suceeds with 55% of capital acquired – AMF filing

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