Vivendi has confirmed that it has made an offer for Orange-owned video site Dailymotion, as Hong Kong-based telecoms company PCCW ruled itself out of the running.
In a one-line statement issued today, French media giant Vivendi said it had “submitted an offer to Orange regarding Dailymotion”, following press reports that it has made an offer valuing the French video site at some €250 million (US$271.1 million).
The news comes after PCCW said it would not bid for the business, claiming in a statement that “the French government’s preferred search for a European solution discourages international companies’ participation”.
The French government is a 25% shareholder in the video site.
According to a report in French paper Le Monde, Vivendi is aiming for a complete buyout of Dailymotion and plans to integrate the site into its business.
Reports from last month claimed that Orange was set to enter into exclusive talks with PCCW to sell a 49% stake in Dailymotion.
Orange has been searching for an international partner to broaden Dailymotion’s reach for a number of years.
However, a 2013 move to sell a 75% stake to Yahoo was reportedly effectively blocked by government minister Arnaud Montebourg, who was keen for France to retain majority control of the site.
Back in May 2014, Vivendi-owned pay TV business Canal+ was reported to be in talks with Orange about taking a stake in Dailymotion.
Vivendi’s other assets include Universal Music Group and German subscription video-on-demand site Watchever.
Meanwhile, Vivendi remains in a clash with activist shareholder P. Schoenfeld Asset Management.