Vivendi increases stake in Canal Plus

Media company Vivendi has increased its stake in the French unit of its Canal Plus broadcaster to 93.6 per cent following a public tender offer.

Vivendi, which already had a 48.5-per-cent shareholder in the unit through its subsidiary, Canal Plus Group, announced in May that it had launched a bid to buy-out the division. The unit controls the Canal Plus channels, a major platform for sports coverage in the country.

The public tender offer represented 45.2 per cent of the share capital and voting rights of the company and ran from July 9 to August 12, 2015.

The public tender offer has been reopened for at least 10 stock market days, with the offer price remaining the same at €8 ($8.84) per share.