FRANCE: REORGANISATION OF LAGARDÈRE NETWORKS

Changes are in the offing for the radio stations of the Lagardère group: a reorganisation has been announced that will reshape the ownership and governance of Europe 1, RFM and Virgin Radio
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The French group Vivendi takes another step towards control of the Lagardère group. At the end of the takeover bid (which was reopened from 29 May to 7 June 2022), Vincent Bolloré’s group reached 57.35% of the capital. The decision of the Autorité de la Concurrence is now awaited, which will have to pronounce on the 47.33% of voting rights that Vivendi acquired with the takeover bid (it currently holds 22.45%). In the meantime, the group has announced its intention to restructure the ownership and governance of the radio pole, which includes the three national networks Europe 1, RFM and Virgin Radio. The operation will have to be financially neutral, and (as ‘Les Echos’ writes) the activities could be brought together in a limited partnership in which the limited partners would be companies of the Lagardère group and the general partner Arnaud Lagardère.

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