By Mauro Orru 
 

Vivendi SE said Wednesday that it has signed a put option agreement for the acquisition of Prisma Media.

The European media giant said the announcement comes at the end of exclusive negotiations with Gruner + Jahr--which is part of German media conglomerate Bertelsmann SE.

Option agreements can be employed when an existing shareholder is granted a right, but not obligation, to sell shares for a specific period and at a specific price.

 

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

 

(END) Dow Jones Newswires

December 23, 2020 12:56 ET (17:56 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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