BRUSSELS (Reuters) – French media conglomerate Vivendi has offered remedies to address European Union (EU) competition concerns over its planned takeover of Lagardere, according to a filing on the European Commission’s competition policy website.
Last month, the European Commission had opened an in-depth investigation into the planned deal, amid concerns it could impact competition in the sector.
The proposed deal would combine France’s two biggest publishing groups, Lagardere’s Hachette and Vivendi’s Editis, and it has come in for criticism from rivals including Gallimard.
French billionaire Vincent Bollore is Vivendi’s controlling shareholder, with a 29% stake.
(Reporting by Sudip Kar-Gupta, Editing by Louise Heavens)