On 19 January 2007, a merger between Lagardère and Sportfive Group (“Sportfive”) was approved by the European Commission on the basis that there are no horizontal overlaps in their activities. Lagardère is active in media markets, including: book publishing; press; distribution and retailing services; broadcasting and multimedia services; and high technologies. Sportfive is active in: sports trading; broadcasting rights; and events marketing. The merger of the two companies will establish Lagardère’s position in the international sports rights trading market.