France Telecom-Dailymotion Tie Is Asset For France-Industry Min
January 25 2011 - 2:56PM
Dow Jones News
French industry minister Eric Besson said Tuesday that France
Telecom (FTE) Orange's entering into exclusive talks to acquire a
49% stake in French video-sharing website Dailymotion will help the
website become a global player in the field of new Internet
uses.
Dailymotion has received support from the French state since
2009 through the state-backed investment fund Fonds Strategique
d'Investissement's, one of its shareholders, the industry ministry
said in a statement, without specifying FSI's current stake in
Dailymotion.
The alliance between a leading online video group and a major
Internet and mobile services provider will strengthen France's
position on the global digital market, particularly on the growing
online video segment, Besson said.
France Telecom said earlier Tuesday it has entered in exclusive
talks to acquire a 49% stake in Dailymotion for EUR58.8 million,
the second deal announced in a week under the group's new content
strategy.
-By Angeline Benoit, Dow Jones Newswires; +33 1 4017 1740;
angeline.benoit@dowjones.com