Vivendi boosts ownership stake in Lagardere to 55%, extends offer until June 9

© Reuters. FILE PHOTO: A Vivendi sign is seen at the company’s headquarters in Paris, France, April 8, 2015. REUTERS/Gonzalo Fuentes

PARIS (Reuters) -Vivendi’s take over of publishing group Lagardere succeeded, France’s financial watchdog AMF said on Wednesday, adding that Vivandi had managed to acquire around 55.4% of Lagardere’s share capital, but not yet secured a voting rights majority.

The tender offer, which officially ended last Friday, will be re-opened from May 27 to June 9, the AMF said, leaving a window open for the company controlled by the billionaire Bollore family to raise its stake in Lagardere.

As of May 20, Vivendi (EPA:VIV) holds 45.9% of voting rights, the AMF said, but added that in accordance to the terms of the takeover and antitrust rules, Vivendi will only use 22.50% of its voting rights until the takeover is officially cleared by regulators.

The acquisition means Vivendi, which already owns pay TV group Canal+ and right-leaning news channel CNEWS, will gain financial control over Lagardere’s flagship magazine Paris Match, weekly newspaper Journal du Dimanche and radio station Europe 1.