PARIS - Qatar Holding has increased above 10 percent its voting stake in French media group Lagardere, which owns magazines such as "Elle" and "Paris Match", France's stock market regulator said on Monday.

afp.com/Joel Saget

Qatar Holding LLC told the AMF regulator that it may increase its stake above the 12.83 percent of capital and 10.05 percent of voting rights it currently ownes but that it does not intend to take control of the company.

But Qatar Holding, which was founded by the sovereign wealth fund of the gas-rich Gulf country, informed the AMF it was open to discussing strategic partnerships in order to boost long-term value for shareholders and intended to propose a candidate for the board.

Arnaud Lagardere, the son of the founder Jean-Luc Lagardere, held 9.62 percent of the capital and held 14.01 percent of voting rights at the end of 2010 according to the annual report. Despite the small stake, the shareholding structure has let him control the company.

Earlier this month Lagardere posted a net loss of 700 million euros ($921 million) for 2011 after having taken 900 million euros in provisions to account for the poor performance of sports and pay TV operations in the second half of last year.

Qatar Holding has recently taken stakes in other French companies including oil company Total and luxury goods giant LVMH.