April 24 Reuters Vivendi said on Monday it had entered into a put option agreement with a subsidiary of Daniel Kretinsky39;s Czech Media Invest CMI to sell its publishing business Editis.

Vivendi is set to win EU approval to buy fellow French media group Lagardere after addressing antitrust concerns with its offer to sell Editis and celebrity magazine Gala.

Czech billionaire Kretinsky, who has built up one of Europe39;s biggest energy companies over the last decade, already has stakes in France39;s Le Monde newspaper, supermarket company Casino and TV group TF1.

Vivendi said in March that it was in talks with CMI39;s International Media Invest IMI over the sale of Editis.

We are convinced that Editis and Gala will have a bright future, supported by their future shareholders, and that they will unfortunately continue to be formidable competitors for Lagardère, supervisory board chairman Yannick Bolloré told shareholders at Vivendi39;s annual general meeting.

CMI is the leading media group in the Czech Republic where it publishes four daily newspapers, a number of magazines, and has an extensive digital and radio presence.

IMI said it a statement that buying Editis reinforces CMI39;s development strategy in content industry, while at the same respecting the cultural exception of the company39;s activities.

Terms of the deal were not disclosed.

Vivendi earlier said firstquarter revenue rose 3.1 to 2.29 billion euros 2.51 billion, driven by growth at Canal Group,…