Mon, Apr. 13, 8:29 AM
- Acquisitive Vivendi (OTCPK:VIVHY) is denying reports that it has bid for its smaller rival Largadere (OTCPK:LGDDF), and says it has no plans to do so.
- "There has been no offer for Lagardere by Vivendi and there will not be one," says Vivendi's Simon Gillham. "The Lagardere Group is a good friend of Vivendi and has been for a long time."
- There will be deals; Vivendi sits atop a huge cash pile, and even the activist hedge fund pressing the company to sell Universal Music wants to see smart acquisitions, but the full strategy may not become much clearer before Vivendi's annual meeting Friday.
- While Vivendi is pursuing Orange's Dailymotion, it's also denying interest in Sky TV (OTCQX:SKYAY) or Britain's ITV (OTCPK:ITVPF).
- Vivendi shares are up 0.5% at Euronext Paris.
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