Orange to keep Dailymotion stake
March 25, 2013
France Telecom Orange will remain an owner of video sharing website Dailymotion even as it searches for a partner to help the Youtube competitor expand in the US, the telecom operator’s chief executive told Le Figaro following reports it was looking to sell.
“I have no intention of selling Dailymotion,” said Stephane Richard.
“What Dailymotion needs today is the means to accelerate its development especially in the US 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.”
Last week it emerged that Yahoo was in talks to acquire up to a 75 per cent stake in Dailymotion in a deal that could be worth $300 million.