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France Tel to remain shareholder in Dailymotion-report
March 25, 2013 / 6:40 AM / 5 years ago

France Tel to remain shareholder in Dailymotion-report

PARIS, March 25 (Reuters) - France Telecom will remain an owner of video sharing website Dailymotion even as it searches for a partner to help the Youtube competitor expand in the United States, the telecom operator’s chief executive told Le Figaro newspaper.

“I have no intention of selling Dailymotion,” said Stephane Richard in the interview.

“What Dailymotion needs today is the means to accelerate its developing especially in the U.S. to compete with Youtube...We will remain an influential shareholder in Dailymotion and will be attentive to the consequences for Orange and for France of any eventual partnership.”

The Wall Street Journal reported on March 19 that Yahoo Inc was in talks to acquire up to a 75 percent stake in Dailymotion in a deal that could be worth $300 million.

Dailymotion is the No. 12 ranked online video Web property in the world, according to industry research firm comScore, with 116 million unique monthly visitors. Google, which owns YouTube, is the world’s No. 1 Web video property while Yahoo’s various websites ranked 10th on the list.

Separately, Richard said he would prepare a strategy plan for France Telecom’s future through 2020 to present to the board before the end of the year.

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