Vivendi agrees proposal for mediator in Canal+ spat
PARIS May 31 (Reuters) - French media group Vivendi on Friday backed a proposal to name a mediator in the legal spat with media group Lagardere over their Canal+ France pay-TV venture.
"Vivendi confirms it has accepted the proposal from Commercial Court President Franck Gentin to open the way to a mediation in the lawsuit filed by Lagardere, demonstrating its goodwill and full confidence," a Vivendi spokesman told Reuters.
Lagardere could not be immediately reached for comment.
Lagardere had said in February it was suing Vivendi for 1.6 billion euros ($2 billion) in a dispute over Canal+ France.
Lagardere wants Vivendi to return the sum to Canal+ France because it claims Vivendi is making permanent use of the business's entire cash surplus under a disputed cash management agreement between the venture and its Vivendi-owned parent.
Vivendi has in turn accused Lagardere of trying to destabilise it and force it to buy back Lagardere's 20 percent stake in Canal+ France.
Earlier this month Vivendi, which owns the remaining 80 percent, said the stake was "core" and it was not interested in selling it to Lagardere. ($1 = 0.7716 euros) (Reporting by Dominique Vidalon; Editing by David Holmes)
- White House reverses, says Obama met uncle and lived with him during law school
- U.S. television, Twitter, alive with new version of 'Sound of Music'
- South Africans, some fearful, wake to life without Mandela |
- RPT-UPDATE 1-Ford leans on global Mustang to burnish overseas image
- UPDATE 4-Hurricane-force winds wreak havoc in Britain, head to Europe