(MENAFN) French media group Vivendi, with cash to spend after selling a chunk of its business, said it has no plans to bid for smaller rival Lagardere, Oman Observer reported.
A source familiar with the matter had said Vivendi had made a bid worth USD3.50 billion for Lagardere in recent weeks. French magazine L'Express had also reported Vivendi's interest earlier in April.
"There has been no offer for Lagardere by Vivendi and there will not be one. The Lagardere Group is a good friend of Vivendi and has been for a long time," Vivendi spokesman said.
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