(Finance) – Green light from the European Commission to the acquisition of Lagardere by Vivendi.
“Vivendi and Lagardère are the main publishers of French-language books and magazines – said the vice-president of the European executive Margrethe Vestager in a statement -. We must ensure that the book and print publishing markets remain competitive and diversified, to foster a plurality of ideas and opinions. The remedies proposed by Vivendi will make it possible to preserve the existing competition in those markets, to the benefit of consumers”.
The approval is conditional on the completion of the two proposed commitments, namely the sale of 100% of Editis and the sale of Gala magazine.
Vivendi is confident it can finalize these two transactions by the end of October.