Dailymotion: the government pushed back PCCW, Vivendi enters the scene
After Yahoo! in 2013, the French Government back the Hong Kong group interested in buying shares in the Orange video platform. Vivendi, according to the World, would be in the running.
"The desire of the French government to encourage the search for a European solution discourages participation of international companies. So we decided to end our discussions with Dailymotion and its current owners," said PCCW in a statement. The Minister of Economy and Industry Emmanuel Macron had opposed the approach Wednesday at the Hong Kong group to allow time for a European partner to manifest.
According to Monday's World, Vivendi, whose supervisory board is chaired by Vincent Bolloré, have taken advantage of this governmental brakes on Hong Kong group's ambitions to make an offer. It would amount to 250 million euros for almost all of the platform, and the Orange Board should examine Tuesday, April 7.
The group, chaired by Stéphane Richard, wants to find a player capable of giving a significant boost to its platform, a rival to YouTube, which is able to ensure its development outside Europe. Dynamic compatible with Vivendi's investment potential that could find favor in the eyes of the French government. The state owns 24.9% of the capital of Orange, who Dailymotion control since 2012.
The takeover would also be consistent with the strategy of Vivendi, which is already involved in music platform Spotify. The French multinational also has interest in Canal + and Universal Music groups that could disseminate content via Dailymotion.
PCCW sought "to forge a partnership with Dailymotion likely to quickly give his video platform sufficient global, in a market where critical mass is vital for growth," the statement on Monday. The group "continue to invest in the nature of partnerships to support the international development of its activities in the field of video media and online platforms."
In 2013, the predecessor of Emmanuel Macron, Arnaud Montebourg, Minister of Relief productive, had vetoed a Dailymotion proposed acquisition of the US company Yahoo