France’s Vivendi in talks to buy video-sharing site Dailymotion
Source: France 24
The French-based rival to YouTube, which belongs to telecoms group Orange, has long generated interest from companies far and wide. But several attempts to buy a stake in the platform have been met with resistance from the French government, which would prefer to see it remain in European hands.
In 2013, France blocked a bid by US giant Yahoo! to acquire Dailymotion, and last week the finance ministry said it opposed exclusive talks between Orange and PCCW group, prompting the Hong Kong telecom firm to drop its bid.
In a statement released on Monday, PCCW blamed France’s protectionist policies for the company’s decision to abandon its offer.
“An environment where policies appear to favor a French or European solution is discouraging for international business participation,” it said.
Read more: http://www.france24.com/en/20150407-france-vivendi-video-dailymotion-orange/
France can sometimes be overly protective of French companies.
Some business analysts say there was no reason not so sell to Yahoo! Not selling to Hong Kong-based PCCW is more understandable.
'The government's reluctance to sell Dailymotion to US or Hong Kong firms has some in France scratching their heads, particularly as it allowed the sale of a near 50-percent stake in the strategic airport of Toulouse to a Chinese consortium in December.'
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