Lagardere Share Price Jumps 20 Percent After Vivendi Increases Stake

The logo of French media group Lagardere is seen during the groups annual general meeting in Paris, France on May 3, 2016. Benoit Tessier/Reuters

PARIS—Shares in France’s Lagardere surged 20 percent on Thursday after media group Vivendi said it would buy another stake in the company, paving the way for a full takeover.

Canal+ owner Vivendi, which already owns 27 percent of Lagardere, said it had agreed to buy Amber Capital’s 17.9 percent holding for 24.10 euros per share, or about 610 million euros ($718.95 million).