Hong Kong’s PCCW has ended discussions with Orange about buying the telecoms group’s Dailymotion video platform, just days after the French government intervened to seek alternative acquirers.
Since mid March, the Asian media and telecoms company had been poised to enter exclusive negotiations with its French counterpart over the sale of its YouTube-like business.
But, last week, France’s socialist government — a 25 per cent shareholder in Orange — weighed in on the mooted sale, insisting that Orange explore “all the options” before choosing a non-European buyer.
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