A new suitor, Stéphane Courbit, at the head of the Banijay audiovisual production group and Betclic sports betting, has been added, according to BFM Business, to the list of candidates for the takeover of Editis, the number two French publisher ( 10/18, Bordas, Plon…), offered for sale by its owner, Vivendi. The latter resolved, this summer, to sell this subsidiary in the hope of convincing the authorities responsible for competition at the European Commission to let him acquire Lagardère, the parent company of Hachette, the very profitable world number three in publishing. . Stéphane Courbit makes no comment and therefore does not deny his interest in Editis.
However, this close friend of Vincent Bolloré risks being in conflict of interest in such an operation since Vivendi owns 19.9% of FL Entertainment, the listed group which oversees Banijay and Betclic.
Vivendi wishes to sell Editis according to a so-called “distribution-listing” scheme, by selling the 29.6% personally held by Vincent Bolloré to a reference shareholder and by putting the rest of the capital on the stock exchange, which will be distributed to Vivendi shareholders. Negotiations with other potential buyers are already underway, such as the Czech businessman Daniel Kretinsky, the only one who has officially declared his interest in Editis; Rodolphe Saadé, CEO of the shipowner CMA CGM; the magazine group Reworld Media; Italian publisher Mondadori, and Xavier Niel, shareholder of Monde on an individual basis.
“Strong Recommendations”
The European Commission recorded, Friday, December 16, the delivery by Vivendi of this “remedy” to its merger with Lagardère. And after having launched an in-depth investigation into this acquisition operation, fearing that it “does not reduce the diversity, accessibility and affordability of French-language books”, Brussels extended its reflection period on Tuesday 20 December until 23 May. Nothing says that the antitrust authorities will not prefer another solution, such as the sale of 100% of the capital of Editis. The Commission has also launched a public inquiry into the tabloid press (Paris Match, Gala et Here is)a sector where the absorption of Lagardère by Vivendi may also pose competition problems.
Within Editis, the staff representatives, who ask to be received by Vivendi management, have drawn up, with the help of the socio-economic expertise firm Secafi-Alpha, a detailed document which “strong recommendations” for the choice of the buyer. This text reaffirms “the attachment of employees to the integrity of the group’s perimeter, both in terms of editorial poles and integrated distribution distribution, two structuring elements which have been guarantees of stability and growth”.
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