The European Commission has approved Vivendi’s sale of French-language book publisher Editis to Czech Media Invest (CMI), owned by Czech billionaire Daniel Kretinsky. Through equity firm Vesa, Kretinsky also owns a 25.03 percent portion of French book retailer Fnac Darty. The Commission decided that, since Kretinsky’s minority stake does not allow him to control Fnac Darty, the purchase of Editis would not lead to any competition issues between the retailer and Editis. Now that Editis is spun off, the EU will likely approve Vivendi’s purchase of Lagardere.
