EU conditionally OK's Dassault takeover of Socpresse

17th June 2004, Comments 0 comments

BRUSSELS, June 17 (AFP) - The European Commission said Thursday it had conditionally cleared the takeover by the industrial group Marcel Dassault of French publisher Socpresse, whose titles include French daily Le Figaro.


BRUSSELS, June 17 (AFP) - The European Commission said Thursday it had conditionally cleared the takeover by the industrial group Marcel Dassault of French publisher Socpresse, whose titles include French daily Le Figaro.  

Groupe Industriel Marcel Dassault, which is already active in the market for economic and financial magazines, has agreed to sell the magazine La Vie Financiere in order to resolve the competition concerns raised by the deal.  

The commission, the EU's executive arm, said the merged group would control a number of economic and financial magazines, giving it a market share of close to 50 percent in France. It said the group would have a stronger position against advertisers.  

A buyer of the title being given up will have to be approved by the commission.   

The commission said the buyer must have "sufficient credibility" in the publishing market to assure the magazine survives and that competition remains effective.  

Groupe Industriel Marcel Dassault is the family holding company belonging to 78-year-old
Serge Dassault and has long tried to take over Le Figaro.  

Serge Dassault, a former fighter pilot whose company Dassault Aviation turns out the French combat aircraft Mirage and Rafale, had tried in vain to buy into Le Figaro in 1999 and to acquire another Socpresse publication, the news magazine L'Express, in 1997.

© AFP


Subject: French news

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