PARIS Feb 12 Lagardere is taking
Vivendi to court to demand that the media-to-telecom
conglomerate return 1.6 billion euros ($2.15 billion) cash to
its pay-TV operator unit Canal+ France, the daily Le Figaro
reported in its Wednesday edition.
Vivendi owns 80 percent of Canal+ France, Lagardere the
remaining 20 percent. The two companies had held talks
previously about Vivendi buying Lagardere's shares, but were
unable to agree on a valuation.
Lagardere also attempted to list its stake in 2011, but
abandoned the move because of market volatility.
Lagardere is asking a Paris court to void an agreement that
allows Vivendi access to 1.6 billion euros of cash generated by
Canal+ France and demand that the group return the funds to its
unit, the newspaper said.
The court hearing is set for March 21, the newspaper said.
No one at Lagardere and Vivendi was immediately available
($1 = 0.7427 euros)
(Reporting by Elena Berton; Editing by Leslie Gevirtz)