France’s richest man Arnault set to invest in DTT channel

Bernard Arnault, France’s richest man, is one of a group of shareholders set to invest €5 million in new French digital-terrestrial TV channel Numéro 23, according to a report in Le Point.

LVMH Moët Hennessy Louis Vuitton boss Arnault will invest in the channel, formerly known as TVous la Diversité, alongside Casino group, Iliad Telecom boss Xavier Niel, Jacques-Antoine Granjon and Jacques Veyrat, according to the report. Channel boss Pascal Houzelot will retain a majority stake in the venture.

Numéro 23 was one of six new channels to be granted a licence by regulator the CSA, with a mission to represent the diversity of French society.

Arnault was most recently in the news following his move to gain Belgian citizenship, leading to accusations that he wanted to use this to gain exemption from French taxes as a Belgian domiciled in Monaco. Arnault said he intended to continue paying taxes in France and that his reasons for seeking Belgian citizenship were purely personal. It was announced at the end of last week that Arnault is to receive an honorary knighthood in the UK for services to business and the wider community.