Bloomberg News

Lagardere Says It’s In Talks With Possible Canal Stake Buyers

February 07, 2012

Feb. 7 (Bloomberg) -- Lagardere SCA is talking to potential third-party buyers for its 20 percent stake in pay-TV operator Canal Plus France, though an initial public offering remains the main scenario for the unit.

“There are some interested parties, but there is nothing to be expected in the next few days or weeks,” Dominique D’Hinnin, co-managing partner of Lagardere, said on a conference call with journalists today.

Lagardere, which also owns 7.5 percent of European Aeronautic Defence & Space Co, won’t sell its stake before the Airbus A350 is well on track, Chief Executive Officer Arnaud Lagardere said on the same call.

“It won’t be a matter of years,” he said. “It is difficult to give you a precise timetable.”

The Paris-based firm, which is shifting its business toward domestic French publishing and sports, has no short-term acquisition plans, though it is looking at potential targets in travel, Lagardere said.

To contact the reporter on this story: Marie Mawad in Paris at mmawad1@bloomberg.net

To contact the editor responsible for this story: Steve Rhinds at srhinds@bloomberg.net


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