By Olivia Bugault

Vivendi SA said Monday that it is increasing its stake in Spanish media conglomerate Prisa to 9.9%.

"Buying shares in Prisa is part of Vivendi's ongoing strategy to become a global leader in content, media and communications, while extending its access to the Spanish-speaking markets in Europe, Latin America and US Hispanics," the French media giant said.

Vivendi said its move comes after the company acquired a 7.6% stake in its rival on Friday.

Write to Olivia Bugault at olivia.bugault@wsj.com

(END) Dow Jones Newswires

January 25, 2021 02:34 ET (07:34 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
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