Vivendi to acquire 15% stake in French media retailer
Vivendi has agreed to acquire a 15% stake in French media retailer Fnac in a bid to boost its events and digital services.
The company had agreed to a reserved capital increase of €159 million, valuing the retailer of books, music and consumer electronics at €54 a share.
According to Vivendi, the partnership is aimed at increasing cooperation in live events and ticketing in various countries, access to extended digital services for customers of the two groups and an acceleration of Fnac’s international development, in particular in Southern Europe.
The announcement comes after Vivendi agreed to take a 3.5% stake in Italian media group Mediaset last week. Vivendi’s main subsidiaries comprise TV channel Canal Plus and US film and music company Universal.