Lagardere Postpones Canal Plus France IPO Amid Japan Crisis
March 16 2011 - 1:39PM
Dow Jones News
French media company Lagardere SCA (MMB.FR) Wednesday said it
will postpone the initial public offer of its 20% stake in French
pay TV Canal Plus France due to the market volatility following the
Japanese earthquake and its dramatic consequences.
"Due to the scale of the disaster in Japan and...the extreme
volatility of the markets, the Lagardere group has decided to
postpone the calendar of the initial public offering of its stake
in Canal Plus France," the company said in a statement.
Lagardere remains committed to selling the stake "soon," the
company added.
Canal Plus France, a unit of Canal Plus Groupe, is 80%-owned by
French media and telecoms giant Vivendi SA (VIV.FR).
-By Ruth Bender, Dow Jones Newswires; +33 1 4017 1740;
ruth.bender@dowjones.com