The Chinese group PCCW said Monday it has terminated its discussions with Orange for a partnership agreement with Dailymotion, online subsidiary of videos ‘French telecom operator. Vivendi has made an offer of € 250 million.
The PCCW Group, the holding company of Hong Kong billionaire Richard Li, did not wait for the banns are published to leave the wedding. It has indeed announced Monday the end of its discussions with Orange for a partnership agreement with Dailymotion, the online subsidiary of videos from French telecom operator. Immediately, Vivendi made a bid.
“ The expressed will of the French government to encourage the search for a European solution discourages participation of international companies” , said in a statement Monday listed group in Hong Kong. “We have decided to end our discussions with Dailymotion and its current owners. ”
It must be said that the Chinese had not claiming the favor of the immediate surroundings, that is to say, the French state holds 24.9% of the capital of Orange, who Dailymotion control since 2012. Last Wednesday, Emmanuel Macron, the French Minister of Economy had hoped that Orange is studying possible European candidates in its search for a partner to Dailymotion, the proposed acquisition by the US Yahoo had already failed two years earlier to the opposition of Arnaud Montebourg, then Minister of Productive Recovery
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Vivendi has 250 million
“ The government has never shown to be hostile to the discussions but asked, as a shareholder, in Orange not to grant exclusivity to the offer PCCW before discussing with all potentially interested partners “, told AFP the Ministry of Economy. According to him, this decision has opened discussions with “ several potential bidders discussions “.
Which? According to World Information dated Monday, Vivendi made a bid of 250 million euros “ buy almost all of the site “. “ The proposal should be discussed Tuesday, April 7 by the Board of Directors ” Orange. The rich war chest of Vivendi (15 billion euros) raised in recent months over the disposals (SFR, GVT, Activision Blizzard, Morocco Telecom) would allow it to easily finance this operation.
Information confirmed by sources “familiar with the matter” that add the financial services company Fimalac would also be interested in an offer on Dailymotion. Fimalac was not reachable for comment.
Source Agencies
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