Deals
Vivendi’s Dailymotion Talks Advance as France Demands EU Bid
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Vivendi SA, the French media company hunting for acquisitions, began exclusive talks to buy control of online video service Dailymotion from Orange SA, after France said it prefers a European buyer for the website.
The 217 million euros ($235 million) takeover bid is for an 80 percent stake in the smaller YouTube rival, the Paris-based companies said in a statement on Tuesday. It’s Vivendi’s first major purchase under the direction of chairman and billionaire investor Vincent Bollore, who faces pressure from Wall Street activists to distribute most of its cash pile, estimated at as much as $20 billion, back to shareholders.