Lagardère sale of Canal Plus stake looks likely

French conglomerate Lagardère could sell its 20% stake in Canal Plus France to Vivendi next year, according to finance director Dominique D’Hinnin, cited by the Reuters news agency.

D’Hinnin said a sale was “probable” but would depend on price. Lagardère has the right to dispose of the stake during a window between March 15 and April 15 each year until 2014, following the exercise in February next year by TF1 and M6 of their option to sell their respective 9.9% and 5.1% stakes in Canal Plus. One possibility that has been mooted is that Lagardère could make its stake available on the stock market.

D’Hinnin said Lagardère would not sell its 7.5% stake in aeronautics and defence group EADS.