Lagardère still bets on Canal+’s shares IPO

Pascale Paoli-Lebailly ©RapidTVNews | 05-05-2012



Lagardère’s CEO Arnaud Lagardère is still planning an IPO for the 20% stake his group holds in Canal+ France. He indicated on Thursday to the group’s shareholders that such an option could be relaunched in the coming months.

"The priority is still to exit from this investment," he added.

Lagardère doesn’t know yet when the sale of the stake, which is valued at 1.2bn euros, will become effective but he hopes it will in the coming months. In February, the media group had already forecast a €900m write-down related both to its struggling sports marketing business and to the charge on its 20% stake in Canal+ France. Last Spring, Lagardère had tried to prompt an IPO over this stake with no success.