Virgin expected to sell stores to Lagardere.(Richard Branson reported to sell 18 Virgin Megastores in France to Lagardere S.A.)(Brief Article)

Byline: Alan Tillier

PARIS -- British entrepreneur Richard Branson is expected to sell his 18 Virgin Megastores in France this week to media and aerospace group Lagardere SA for about Fr1 billion ($133 million), analysts and union leaders said Monday.

A press official for Hachette Distribution Services, the media distribution arm of Lagardere, said talks were under way. Dow Jones news agency quoted a Virgin Group official in London as saying an announcement "could come soon."

Print union leaders in Paris said Virgin informed them of an upcoming sale and were examining the conditions, as French law requires. They said they had few objections, if any. …