Lagardere committed to Canal Plus IPO strategy

Arnaud Lagardere, the CEO of French media conglomerate Lagardere, has told investors the company is committed to its plan for an IPO of the 20% stake it owns in French pay-TV operator Canal Plus.

Market watchers had seen the IPO plan as a negotiating tactic in negotiations with Canal Plus majority owner Vivendi, but Lagardere said plans for an IPO were being actively laid now, with the timing likely to be early 2011.