Retail round-up on April 13, 2016: Vivendi agrees to acquire 15% stake in Darty suitor Fnac and The Consumer Price Index edges up 0.5% in March.
Vivendi to take 15% stake in French retailer Fnac
Vivendi has agreed to acquire a 15% stake in French book and CD retailer Fnac.
The media group, chaired by billionaire Vincent Bolloré, said it would buy via a €159m reserved capital increase.
The move is to value Fnac at €54 per share, giving it more financial power to expand.
It is still not clear whether the deal would affect Fnac’s interest to buy London-listed electrical retailer Darty.
British inflation creeps up to 15-month high thanks to higher air fares
UK inflation increased to its highest level for 15 months in March, driven by a sharp rise in air fares due to early Easter and higher clothing and footwear prices.
Inflation rose to 0.5% last month, as measured by the Consumer Prices Index (CPI), according to the latest ONS figures.
However, food prices continued to decline, slumping 3% over the same period as supermarket grocers continued to cut prices amid the ongoing price war.
The CPI has still remained below the Bank of England's 2% inflation target for two years.