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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 | 11.98 | 12.00 | 12.002 | 11.99 | 12.00 | 3,633 | 16:21:28 |
From Jul 2019 to Jul 2024
By Inti Landauro
PARIS-- Vivendi SA has confirmed that it wants to buy the much coveted video-streaming website Dailymotion currently owned by French telecommunications operator Orange SA.
Vivendi, the restructured media group with interests in pay-television and music, gave no detail of the terms of its offer for Dailymotion in a statement on Tuesday which confirmed reports Monday. A Vivendi spokesman declined to provide additional information.
Vivendi's offer follows pressure from the French government for a national company to weigh to bid for Dailymotion so that the smallish rival of Google's Youtube.com stays in French hands after Orange last month opened talks with a Hong Kong-based investor.
A person familiar with the matter said Monday Vivendi had offered 250 million euros ($273 million). The owner of French pay TV group Canal Plus and Universal Music Group wants to develop Dailymotion globally in cooperation with similar services it already controls or has stakes in, such as German movie and television streaming website Watchever or Vevo, according to the person.
Vivendi's offer comes as the French government for the second time in two years scared a foreign company away from buying a stake in Dailymotion, echoing an incident that has cast a shadow over French startups' efforts to woo foreign investors. Two years ago Yahoo! approached Orange to buy a controlling stake in Dailymotion but was eventually rebutted after French government's opposition.
The French government owns a minority stake in Orange.
Hong Kong-based telecommunication company PCCW Ltd. pulled out of talks with Orange to purchase a stake in Dailymotion, after the French government publicly urged Orange to look for European buyers for the site.
No officials at Orange were immediately available for comment.
-Write to Inti Landauro at inti.Landauro@wsj.com
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