US EditionVivendi's Merger with Lagardère May Have Violated Rules, Eu Says
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French media conglomerate Vivendi is facing charges from the European Commission over its premature takeover of publishing house Lagardère, which could result in a fine of up to 10 percent of its annual revenue.
The European Commission said Vivendi may have adopted a series of practices that demonstrated decisive influence over French group Lagardère before officially notifying the merger.
The European Commission accuses Vivendi of potentially violating competition law. Brussels accuses the French group of having taken control of Lagardère far too early, which could cost it dearly.
On Friday, July 18, the European Commission accused the French group Vivendi of having breached EU competition rules and of having taken control of the Lagardère group too early. The allegations were immediately denied by Vivendi, which points to the absence "at this stage of an infringement".
The European Commission considers that Vivendi failed to comply with EU competition rules by taking control of the Lagardère group "too early".
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