Lagardère denies Canal Plus sale rumours

French media to arms conglomerate Lagardère has denied the latest reports that it is planning to sell its stake in pay-TV operator Canal Plus, as well as its stake in defence consortium EADS. Market rumours that a sale of both stakes was likely surfaced this week.

Late last year, Lagardère finance director Dominque D’Hinnin said that a sale of the company’s 20% stake in Canal Plus France was “probable” but would depend on price, but that Lagardère would not sell its 7.5% stake in EADS. Lagardère has the right to sell the Canal Plus stake between March 15 and April 15 each year until 2014.