By Suzanna Kerridge, 26 July 2000 15:52
NEWS Vivendi Universal will have to relinquish control over Canal Plus in order to obtain the green light for the Vivendi-Seagram merger. Under pressure from the audiovisual regulators CSA, Vivendi Universal has agreed to pass control of Canal Plus' 4.9 million subscribers to Canal Plus SA under the title of Canal Programmes. Canal Plus SA will be responsible for controlling the financial and managerial interests of the company. In a statement the CSA said: "The original proposal subjected was not in conformity with the anti-monopolistic law which states that a television company cannot be held by more than 49 per cent by the same shareholder. It required substantial modification of the original data to authorise this merger."
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