Dailymotion, the online video portal owned by French telco Orange, is set to hold talks to sell a 49 per cent stake to Hong Kong-based telecom giant PCCW.

PCCW has reportedly made an offer valuing the video site at about €250 million. The deal would bring in a long-desired foreign partner for the French company to finance expansion in the US, which company executives have long said is essential for the company’s survival.

Dailymotion is one of the largest competitors to Google’s YouTube, with more than 2.5 billion video views per month and 120 million monthly unique visitors.

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