France's Orange to keep Dailymotion after uproar

Jul 23, 2013
The logo of French video-sharing website Dailymotion, set against France's national flag. Dailymotion, the video-sharing site that was at the centre of an uproar after the French state blocked its sale to Yahoo!, will remain a unit of France's Orange, chief executive Stephane Richard has said.

Dailymotion, the video-sharing site that was at the centre of an uproar after the French state blocked its sale to Yahoo!, will remain a unit of France's Orange, chief executive Stephane Richard said on Tuesday.

Dailymotion's place remains "within Orange," Richard said in an interview published on Tuesday in business daily Les Echos adding that the site would also receive a 30 million euro investment.

Industrial Renewal Minister Arnaud Montebourg, who led the campaign to scuttle a sale to US firm Yahoo! earlier this year, welcomed the announcement calling it "good news for France and for Europe."

Yahoo! Inc. had been in talks to buy a 75-percent stake in Dailymotion, which is owned by telecommunications firm Orange, formally known as France Telecom.

But the government, which holds a 27 percent stake in Orange, had insisted on a 50-50 split.

At the time, Montebourg said he had blocked the deal because the US firm was seeking to "devour" the French company.

The move caused anger in business circles and stoked worries that attempts to make France appear business-friendly were seriously harmed.

Explore further: Cable company Charter buying Time Warner Cable for $55.3B

Related Stories

Dailymotion looks ahead despite scuppered Yahoo! deal

May 03, 2013

The head of Dailymotion, the video-sharing site at the centre of an uproar after the French state blocked its sale to Yahoo!, said in an interview published Friday there was still a lot of interest abroad ...

France opens new front in war with Internet giants

Jun 04, 2013

France's culture minister has branded online retailer Amazon a "destroyer" of bookshops in the latest confrontation between the Socialist government in Paris and America's giants of the digital economy.

Orange 'forces Google' to pay for mobile traffic

Jan 16, 2013

The head of French telecoms operator Orange said on Wednesday it had been able to impose a deal on Google to compensate it for the vast amounts of traffic sent across its networks.

Recommended for you

Snapchat has IPO plan, CEO says

3 hours ago

The chief of vanishing-image service Snapchat on Tuesday said the company has a plan for going public with an offering of stock but did not reveal when it might happen.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.