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Lagardère Bids for Shopping Web Site

French media group is set to expand its portfolio of digital activities.

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GONE SHOPPING: French media group Lagardère said Monday it is offering 24 euros, or $31.68 at current exchange, a share for LeGuide.com, a French online shopping guide. The bid represents a 31.2 percent premium to LeGuide.com’s three-month trading average. Lagardère Active, the firm’s multimedia division, said the acquisition would increase its growth prospects in the digital segment “with a know-how specific and complementary to its own activities.”

LeGuide.com allows users to compare offers from 76,200 online retailers, while providing traffic to online retailers. The Web site operates in 14 European countries, with 28.9 million unique visitors. The offer is for all the shares of LeGuide.com and is set to open Wednesday and run to June 12.

Separately on Friday, the group revealed the appointment of Sheikh Sultan Bin Abdulrahman Al-Thani to the board of Lagardère Unlimited, its sports and entertainment arm. This marks a new step in the relationship between Lagardère group and Qatar, which is now the French company’s largest shareholder.

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