Vivendi, following the recent sale of 10 per cent of its 100 per cent share capital of Universal Music Group (UMG) for an enterprise value of €30 billion, has announced the acquisition of 10.6 per cent of the Lagardère share capital.

Vivendi says the acquisition is “a long-term financial investment reflecting its confidence in the future prospects of the French group which enjoys international leadership positions in its businesses and which, like many others, is experiencing difficult times at the moment”.

Lagardère is the parent of Lagardère Studios, which comprises of 25 production companies. The compnay has been on the market for several months.

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