European Commission clears path for Vivendi's expansion through Lagardère Group purchase

The European Commission has granted approval for Vivendi's acquisition of the Lagardère Group, marking a significant milestone for the French conglomerate's ambitions in the media and entertainment sector. 

With this green light, Vivendi is poised to become one of the largest players in Europe, joining the ranks of industry giant Bertelsmann from Germany.

The Lagardère Group boasts an array of valuable assets, including the renowned Hachette publishing group, prestigious magazine Paris Match, popular radio station Europe 1, and newspaper kiosk chain Relay.

However, the European Commission's approval is contingent upon Vivendi fulfilling certain conditions. Notably, Vivendi must divest its complete share capital in French publishing house Editis and part ways with the celebrity magazine Gala, which is currently under Vivendi's Prisma Group.

Vivendi has affirmed its dedication to meeting these conditions, highlighting its put option agreement with Czech mogul Daniel Kretinsky's International Media Invest for Editis. 

The company expresses confidence in finding a suitable buyer for Gala and anticipates finalizing both transactions by the end of October.

The completion of the acquisition is expected to result in a significant expansion of Vivendi's workforce, increasing from 38,000 to 66,000 employees. 

Additionally, annual revenues are projected to soar to approximately €17 billion, based on 2022 results, in contrast to the current €10 billion.

Yannick Bolloré, Chairman of the Vivendi Supervisory Board, has expressed his satisfaction with the European Commission's decision.

Vivendi's pursuit of Lagardère began in early 2020.