Lagardere to sell Canal stake

By Julian Clover | May 14, 2009 | 10:43 UK

Lagardere CEO Arnaud Lagardere has told an analyst call that the French media giant will eventually sell its 20% holding in Canal+.

Lagardere said he did not know who the eventual buyer would be, or the price, as he was yet to enter into negotiations with the pay-TV platform’s majority owner Vivendi.

He declined to indicate as to where any returns would be spent, but suggested Lagardere was still interested in investing in both purchasing sports and publishing.