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Name | Symbol | Market | Type |
---|---|---|---|
Vivendi SE (PK) | USOTC:VIVHY | OTCMarkets | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 12.00 | 11.93 | 11.96 | 12.002 | 11.99 | 12.00 | 3,911 | 17:58:34 |
French media group Lagardere (MMB.FR) has gone to court against conglomerate Vivendi SA (VIV.FR, VIVEF) over management of cash generated by pay TV company Canal + France, French daily Le Figaro reported Wednesday.
Lagardere, which owns 20% of Canal + France, wants Vivendi, which owns the other 80%, to return EUR1.6 billion in cash to the pay TV unit, the newspaper said. Lagardere is asking the commercial court to annul an agreement that allows Vivendi to manage the cash from Canal + France.
The two companies held talks over Vivendi possibly buying Lagardere's 20% stake in Canal + France, but they failed to agree on price, the report said. Lagardere has criticized Vivendi's use of the cash for other activities instead of paying dividends to Canal + France's shareholders, it said.
Newspaper website: www.lefigaro.fr
Write to Dennis Baker at dennis.baker@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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