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UPDATE 1-France gives LVMH green light to buy Les Echos

Fri Dec 21, 2007 3:57pm EST

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(Adds conditions given by French government in final paragraph)

PARIS, Dec 21 (Reuters) - French antitrust authorities have given luxury goods group LVMH (LVMH.PA) the go-ahead to buy French business daily Les Echos for 240 million euros ($344.9 million).

The Web site of France's antitrust authority DGCCRF said the deal was "authorised under a commitment reserve" on Dec 19.

Further details on the decision were not immediately available, but afternoon daily Le Monde said the green light was accompanied by certain conditions, notably in advertising.

In November, LVMH agreed to buy Les Echos from Britain's Pearson Plc (PSON.L) despite opposition from the business newspaper's journalists.

To respect antitrust laws, LVMH, which owns sister financial paper La Tribune, has entered into exclusive talks to sell La Tribune to News Participations, owned by media executive Alain Weill.

The French government's finance ministry said on Friday that along with selling La Tribune, LVMH would have to separate the advertising business of its Investir magazine from that of Les Echos and also let the future owner of La Tribune maintain advertising links with Investir. (Reporting by Dominique Vidalon; Editing by Quentin Bryar, Gary Hill)



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