French telecommunications company Orange is set to enter into exclusive talks to sell a 49 per cent stake in video-sharing platform Dailymotion to Hong Kong-based telecommunications group PCCW, according to the Wall Street Journal.
Talks are expected to last around 45 days, with PCCW said to have made an offer valuing Dailymotion at about $264.5m (€236.4m).
Orange has been seeking an overseas investor for Dailymotion and in 2013 agreed a deal to sell a 75 per cent stake to US internet company Yahoo, only for the agreement to be vetoed by the French government.
France’s government retains a 27 per cent share in Orange and has stipulated that any investment deal in Dailymotion be limited to a 50 per cent stake.
Dailymotion has entered into sports content partnerships with the likes of the French Football Federation, Spanish Liga club Barcelona and English Premiership rugby union team Wasps over the past year.