Apr. 6, 2015, 2:41 PM
- Vivendi (OTCPK:VIVHY) is offering €250M to Orange (NYSE:ORAN) for most of video-sharing site Dailymotion, according to Le Monde, and Orange's board will meet Tuesday to discuss the bid.
- Orange has been looking for an international partner, and entered into exclusive talks with Hong Kong's PCCW (OTCPK:PCCWY), but PCCW ended those talks as the French government made clear it would prefer a European partner.
- France, which is Orange's biggest shareholder, came in to oppose the 2013 deal where Orange would sell a stake to Yahoo.
- Previously: France may get double votes at Orange in 2016 (Apr. 06 2015)
- Previously: French econ minister: Orange should hear all comers for Dailymotion (Apr. 02 2015)
- Previously: Vivendi fight: Bolloré raises stake again, to 12% (Apr. 02 2015)
Apr. 2, 2015, 10:49 AM
- French telecom Orange (NYSE:ORAN) needs to look at all offers as it seeks to sell a Dailymotion stake, says France's Economy Minister Emmanuel Macron.
- Orange entered exclusive talks with Hong Kong's PCCW (OTCPK:PCCWY) and is reportedly entertaining an offer that values the video site at €250M.
- Macron says he's not opposed to a deal with PCCW, but: "What I said was: 'Should we enter into exclusive negotiations?' The answer is no. We should look at all the offers."
- France takes a heavy hand in foreign investment into French operations, and considers Dailymotion a "jewel." The country killed a Dailymotion stake sale to Yahoo in 2013 over such concerns, and is likely to favor a European partner.
- France is the biggest shareholder in Orange, at about 25%.
- Previously: WSJ: Orange in exclusive talks to sell Dailymotion stake (Mar. 13 2015)
PCCW Limited and its subsidiaries are engaged in the provision of local, mobile and international telecommunications services, Internet and interactive multimedia services, the sale and rental of telecommunications equipment, and the provision of computer, engineering and other technical... More
Industry: Telecom Services - Domestic
Country: Hong Kong