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| Name | Symbol | Market | Type |
|---|---|---|---|
| PCCW Limited New (PK) | USOTC:PCCWY | OTCMarkets | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.03 | -0.62% | 4.80 | 4.71 | 5.11 | 4.92 | 4.80 | 4.92 | 1,737 | 18:00:13 |
From Jul 2019 to Jul 2024
By Ruth Bender
PARIS-- Orange SA Tuesday agreed to enter into exclusive talks to sell Vivendi SA a majority stake in Dailymotion, a deal that looks set to end the telecommunications operator's protracted and politically sensitive hunt for a partner to develop the French video streaming site.
In a joint statement, the companies said Vivendi has offered to buy 80% in Dailymotion for EUR217 million. Orange will keep the remaining 20% stake if the companies reach a deal at the end of the exclusive talks, the groups said.
The deal with Vivendi would assure that Dailymotion remains in the control of French companies after the French government twice prevented Orange from selling a stake in the streaming site to a foreign company.
Orange has been looking for a partner for Dailymotion for more than two years. Many bidders have come and gone since the French government in 2013 scuttled a deal for Orange to sell a majority stake in the site to U.S. Internet heavyweight Yahoo Inc.
Last month, Orange came close to completing a deal with Hong Kong-based telecom company PCCW Ltd., but the company Monday pulled out of talks after France's economy minister urged Orange to look for European partners, opening the door for Vivendi to come forward with an offer.
Vivendi has had its eye on Dailymotion for years but in the past failed to convince Orange to give up control of the company, according to people familiar with the matter.
Write to Ruth Bender at Ruth.Bender@wsj.com
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