Arab Today, arab today hong kongs pccw ends bid for stake in oranges dailymotion
Last Updated : GMT 16:23:15
Arab Today, arab today
Arab Today, arab today

Hong Kong's PCCW ends bid for stake in Orange's Dailymotion

Arab Today, arab today

Arab Today, arab today Hong Kong's PCCW ends bid for stake in Orange's Dailymotion

Hong Kong's PCCW Group
Paris - AFP

Hong Kong's PCCW Group said Monday it is ending its bid to take a 49 percent stake in Orange's Dailymotion, citing the French government's preference for a European partner for the French video-sharing platform.
"The desire of the French government to encourage the search for a European solution discourages participation of international companies," PCCW said in a statement explaining its decision.
Orange has owned Dailymotion -- a rival of YouTube -- since 2012 and has been looking for a partner who would be able to fund its growth and ensure its development outside Europe.
France owns a 24.9 percent stake in Orange and Economy Minister Emmanuel Macron asked the company not to enter into exclusive talks with Hong Kong based IT company PCCW before talking to all interested parties, with the idea of finding ?a European solution.
Orange said it was "not in exclusive talks with anyone", but added that it was not opposed to having "a strategic partner to support and accelerate the development of Dailymotion."
PCCW is owned by Hong Kong tycoon Li Ka-shing's son Richard Li.
Li Ka-shing's Hutchison Whampoa bought British telecom giant O2 last month for $15.2 billion (13.8 billion euros), a move that expanded the tycoon's holdings in the international telecoms industry.
A source with knowledge of the Dailymotion talks said that it was now left to the French holding company Fimalac to make an offer for Dailymotion.
French newspaper Le Monde reported on Monday that the French media group Vivendi has made an offer of 250 million euros ($275 million) to buy out "almost all" of Dailymotion.
This offer negotiated by Orange's executive board will be presented and debated on Tuesday at a special board meeting, added Le Monde.
The German groups Axel Springer and Bertelsmann have also been mentioned.
This is not the first time the French government has been involved in talks over Dailymotion.
In 2013 France's then industrial renewal minister, Arnaud Montebourg, blocked a bid by Yahoo! of the United States to acquire Dailymotion, then valued at $300 million.
Dailymotion, a start-up launched in 2005, receives 128 million unique visitors per month, most of them from Europe.
The site is available in 18 languages with a strong presence in Turkey and Asia in particular.
It has yet make a profit, and only 10 percent of its revenue comes from France.

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today hong kongs pccw ends bid for stake in oranges dailymotion Arab Today, arab today hong kongs pccw ends bid for stake in oranges dailymotion

 



Arab Today, arab today
Arab Today, arab today Nohan Seyam designs beautiful accessories

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Top Yemen commander killed

GMT 09:55 2017 Wednesday ,22 February

Top Yemen commander killed
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 06:43 2017 Wednesday ,22 February

LuLu festival offers a taste of Egypt

GMT 06:11 2017 Wednesday ,22 February

Russia’s Rosneft, Libya’s NOC sign oil offtake deal

GMT 05:49 2017 Wednesday ,22 February

‘PSA to honor Opel job guarantees’

GMT 05:41 2017 Wednesday ,22 February

BHP to Trump: Protectionism will hurt growth

GMT 20:42 2017 Tuesday ,21 February

Amazon plans 5,000 new jobs in UK
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Janat pleased for issuing 'Good Morning'

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 05:15 2017 Tuesday ,21 February

Omega 3 can reduce asthma cases

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 16:08 2017 Wednesday ,15 February

Shawsh reveals her collection "Jewelry of dreams"
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday