Encore une fois for Lagardère Canal+ IPO

Pascale Paoli-Lebailly | 31-08-2012

French Media Group Lagardère has indicated it will try to relaunch the IPO of its 20% stake in Canal+.

Presenting its results over the first semester of 2012, the group run by Arnaud Lagardère has confirmed that an IPO was still a priority. “ We are discussing to determine which period will be the best,” Financial Director Dominique d’Hinnin added, as he agreed that all Canal+ projects are not fully set up yet.

The pay-TV group is still waiting for the green light given by French TV regulator the CSA to DTT channels Direct 8 and Direct Star’s takeover. Vivendi’s subsidiary is also still trying to have a decision of French Competition Authority about the TPS/Canalsat merger cancelled by the French Conseil d’Etat.

Lagardère Group posted net sales at €3.389 billion owing to continued growth in the areas of digital and TV Production. Recurring EBIT from media activities reached €112 million, €21 million down xcluding PMI and Russian radios. Net debt was stable at €1.729 billion compared with 30 June 2011.