Orange in talks with Softbank regarding sale of Dailymotion
The listed French telecom group Orange is believed to have held discussions with Japanese competitor Softbank regarding Orange's 100%-owned online video subsidiary Dailymotion, Challenges reported.
The French-language report cited a person familiar with the matter as saying that Stephane Richard, head of Orange, met with Softbank head Masayoshi Son at the end of November and offered to sell the business.
The article cited a spokesperson for Orange as saying that there was nothing “tangible” regarding Dailymotion at the moment and the group is in discussions with several parties.
Richard also met with Richard Li, son of the Hong Kong billionaire Li Ka-Shing, founder and owner of the conglomerate Hutchinson Whampoa to discuss the same matter.
The report also referred to recent comments made by Axelle Lemaire, the French State Secretary for Digital Affairs, as saying that she was not opposed to welcoming a foreign investor in the share capital of Dailymotion.
The 75% sale of Dailymotion to Yahoo! was blocked in 2013 by the French Economy Minister Arnaud Montebourg, who is no longer part of the government, the article added.
Source Challenges