Lagardère unlikely to IPO Canal Plus stake anytime soon

French media group Lagardère is unlikely to launch an IPO of its 20% stake in pay TV group Canal Plus France in current market conditions, according to chief financial officer Dominique D’Hinnin.

D’Hinnin told financial daily Les Echos that the company was still willing to sell but that a public offering was probably not feasible in current conditions.

Lagardère’s IPO of the stake was delayed earlier this year. The company was previously unable to strike a deal with Canal Plus’s majority owner Vivendi over the value of its stake. D’Hinnin told Les Echos that the two sides had not restarted talks.