Lagardere May Resume Canal+ France IPO In June Or Early Fall
May 03 2011 - 6:18AM
Dow Jones News
French conglomerate Lagardere SCA (MMB.FR) could resume the
initial public offering of its stake in pay-TV unit Canal Plus
France in June or the early fall, Chief Financial Officer Dominique
D'Hinnin said Tuesday.
In March Lagardere postponed the initial public offering, or
IPO, of its 20% stake in Canal Plus France--the rest of which is
owned by international media firm Vivendi SA (VIV.FR)--due to
volatile market conditions following the earthquake in Japan.
Lagardere continues to observe the IPO market and notably the
IPO of Swiss commodities giant Glencore International AG in order
to make a decision on its own IPO process, D'Hinnin said in a
conference call on first-quarter revenue.
"The market has recovered quite nicely since [March] but the IPO
market is still difficult," D'Hinnin said.
The IPO of Canal Plus could resume either before or after the
summer break, said D'Hinnin. "If you ask me to take a guess, I
think early fall is more likely," he added.
-By Ruth Bender, Dow Jones Newswires; +33 1 4017 1754;
ruth.bender@dowjones.com