Hachette

""It turned out to be a resounding success," notes a slightly jealous Lagardère shareholder. "And above all, Vincent could not fail to notice that the three global publishing leaders are European-Bertelsmann, Pearson, and Hachette-which aligns well with his strategy of championing non-Anglo-Saxon media.""

"There are now two remaining obstacles to overcome to perfect the operation. The first is in the hands of the Competition Directorate in Brussels. If the new Hachette-Editis combination wants to rise to the top spot worldwide, it must not lose too many publishing houses along the way. However, due to Editis' strong position in France, the combination of the two groups exceeds 50% market share in paraschool, dictionaries, paperback books, and tourism. Sacrifices will have to be made. But for victory to be complete, Vincent Bolloré must also recover Bernard Arnault's shares, again without giving up too many assets."

"long-term investment," says Vivendi, which is cheap (220 million euros), for a waiting position in a 7 billion euros revenue group, present in publishing (Hachette), airport retail (Relay), and still possessing a few powerful media tools (Europe 1, Paris Match, and Le Journal du Dimanche)."