The Bollore company said that the transaction was on the basis of a €5.7bn ($6.1bn) enterprise value.
"The Bollore Group will remain strongly involved in Africa, notably through Canal+, and will also continue to develop on this continent its activities in many fields such as communications, entertainment, telecommunications and publishing," the company said in a statement.
The Bollore company holds 29.5% of French media company Vivendi and roughly 18% of Universal Music Group, as well as a small stake in Italian bank Mediobanca.
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