French government criticised for obstructing takeover talks with Dailymotion

LONDON (ShareCast) - A Hong Kong investor who was in talks to buy a stake in the Dailymotion video platform criticised French economy minister Emmanuel Macron for obstructing the talks and helping Paris media group Vivendi (Swiss: VIV.SW - news) to make a last minute offer. Head (Other OTC: HEDYY - news) of investment group Lake House, Charles Brown, who was a partner in the bid for Dailymotion with Hong Kong telecom company PCCW (HKSE: 0008-OL.HK - news) , said the difficulties in reaching a deal were due to political interferences, the Financial Times reported. "One would have thought Emmanuel Macron would resist political pressure," said Brown. "It's done, we're not bitter, but are we and PCCW getting near France? I doubt it. Not any time soon." Brown added that although he had been sceptical as to whether an agreement could be reached, an earlier meeting in January between PCCW's Chairman Richard Li and the French minister gave signals that their investment in the media group was welcomed by the French government.

"I didn't expect this to get that crazy. The whole thing is very French. And we don't have political clout," he stated.

Brown pointed out that a deal could had given the French group a big exposure to the Asian Market.