France's Vivendi says will not bid for Lagardere

April 11, 2015 10:57 AM

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France's Vivendi says will not bid for Lagardere

PARIS (Reuters) - French media group Vivendi (VIV.PA), with cash to spend after selling a chunk of its business, has no plans to bid for smaller rival Lagardere (LAGA.PA).

Earlier this week, a source familiar with the matter had told Reuters Vivendi had made a bid worth 3.3 billion euros ($3.50 billion) for Lagardere in recent weeks. French magazine L'Express had also reported Vivendi's interest earlier in April.

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