Lagardère, owner of Hachette and Paris Match magazine, was actually owning 20 % of Canal Plus France while Vivendi was owning the remaining 80 %.
In the past, Lagardère always refused to sell its minority shares on Canal Plus group which was preventing Vivendi from having a 100% stake on the French pay-TV unit.
The main argument of Lagardère is that the group was wishing for a public offer in order to launch a higher price.
On its side Vivendi has been buying other holdings such as Universal Music and selling its editing parts in computer games maker Activision Blizzard.
In the end, Lagardère decided to sell its parts of Canal Plus to French group Vivendi at the price the company proposed.
Indeed, Vivendi finally agreed to pay 1.02B euros to Lagardère.
Despite the deal Lagardère and Canal Plus declared that they will proceed their cooperation in entertainment and production.
Doriane Ligorio, IEJ 3F