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fashion-memopad

Lagardère Stock on the Rise

Shares gain on news that Qatar could further up its stake in the media company.

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BIGGER STAKE: Qatar could increase its share again in Lagardère. According to an adjunct filing with France’s stock market authority AMF dated Jan. 3, Qatar Holding LLC, Qatar’s global investment house that became Lagardère’s largest shareholder when it raised its stake in the media company to 10.07 percent on Dec. 23, stated it “could raise its interest in the company Lagardère SCA.” Qatar Holding added it does not envisage taking control of Lagardère. A Lagardère spokesman could not be reached for comment Wednesday.

Lagardère shares closed up 4.6 percent on Tuesday to 22.01 euros, or $28.47 at average exchange for the day. On Wednesday, the stock ended down 1.3 percent to 21.73 euros, or $28.08 at current exchange. Qatar Holding’s acquisition of Lagardère shares was made off the market.

At the end of 2010, Qatar Investment Authority, which wholly owns Qatar Holding, commanded 7.6 percent of Lagardère’s share capital and 6.22 percent of its voting rights, according to the media company’s annual report. Qatar Holding now has 7.87 percent of Lagardère’s voting rights.

Arnaud Lagardère, the son of Lagardère’s founder Jean-Luc Lagardère, held 9.62 percent of the company capital and 14.01 percent of its voting rights at the end of 2010.

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