By Elsa Keslassy International Correspondent Vivendi, the parent company of Canal Plus Group and Universal Music Group, has acquired a 10.6% stake in Lagardere, the troubled French media conglomerate presided by Arnaud Lagardère. “This acquisition is a long-term financial investment reflecting Vivendi’s confidence in the future prospects of the French group which enjoys international leadership positions in its businesses and which, like many others, is experiencing difficult times at the moment,” said Vivendi in a release.
Vivendi recently completed the sale of 10% of Universal Music Group (UMG) for an enterprise value of €30 billion to a consortium led by Tencent.
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