France Telecom behind Le Monde offer

21 June 2010

France Telecom has revealed plans to invest up to €60m in a consortium looking to buy French daily newspaper Le Monde and its online offering.

The deal, which also involves Spanish media group Prisa and publishers Groupe SFA PAR, is expected as a result of Le Monde’s decision to sell a majority stake to help regain control of the company’s finances with debt amounting to €100m.

The Wall Street Journal reports that France Telecom is particularly keen to take control of Le Monde’s website to continue its growth in content ownership. This strategy includes investing €400m in premium content, such as sporting events and HBO TV series, each year for the last three years.

Le Monde’s advisory board is expected to meet on 28 June to make a decision on the potential sale. 

Josh Colley, London