Canal Plus Finalizes Acquisition Of Groupe Bollore's TV Channels
December 02 2011 - 3:12AM
Dow Jones News
French industrial group Bollore (BOL.FR) Friday said it has
finalized the sale of its free-to-air television channels Direct 8
and Direct Star to Canal Plus (AN.FR) as well as the channels'
advertising units.
The agreement gives Canal Plus the option to either buy 60% of
the channels with shares in Vivendi SA, which controls Canal Plus,
and the remaining 40% with cash three years later, or to buy 100%
in one go, in exchange for 22.4 million Vivendi shares, the two
companies said in a joint statement.
The agreement still requires the approval of the French TV
regulator and anti-trust authorities, the statement said.
The Bollore group, controlled by French businessman Vincent
Bollore, seeks to exit from the television business.
-By Eric Chalmet, Dow Jones Newswires; +33 1 4017 1740;
eric.chalmet@dowjones.com
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