French investment and industrial holding group Bolloré and Canal+ Group have confirmed that they have signed the definitive agreement regarding the acquisition of the Bolloré Group free-to-air channels by Canal+ Group.

The agreement provides for the acquisition of the Direct 8 and Direct Star channels in two steps, as well as of the advertising sales division. The agreement also gives an option to Canal+ Group to acquire 100 per cent in one go, in exchange for an issue of 22.4 million Vivendi shares.

The acquisition will be referred to the French competition and media authorities for approval.

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