FT to acquire 49% of Dailymotion

25 Jan 2011

France Telecom (FT) today announced it has entered into exclusive negotiations with online video site Dailymotion with a view to acquiring a 49% stake in its capital. In a press release the French firm says it will pay EUR58.8 million (USD80 million) for the shares; Dailymotion is valued at EUR120 million-EUR150 million, according to French press. Beginning in 2013, the project will allow FT to pursue a progressive capital increase to 100% and also allow for the integration of new business partners. Final agreement is expected to be reached in the next few months.

France, Orange Group