The French tycoon, Vincent Bollore, aims to merge the media giant Vivendi and advertising firm Havas, the two groups that his family conglomerate controls. As per the merger plan, Vivendi offers to buy Group Bollore’s 60 percent stake in Havas at a price of 9.25 Euros per share, in a 2.4 billion Euro deal. After this, Vivendi will launch a public offer to buy the remaining 40 percent of Havas shares at the same price. However, it will not seek to delist the company from the stock exchanges.
Vincent, who is also Vivendi’s chairman and its controlling shareholder with 20.65 percent stake, plans to transform the group into an integrated European media house. The combined entity will have revenues of 13 billion Euros. The group owns Universal Music Group (one of the top three record labels in the world) and Canal Plus, the top pay-TV network in France. It is also acquiring stakes in Telecom Italia and Italian broadcasting firm Mediaset.
Source: Reuters (UK), May 11, 2017.