Shares of Vivendi surged as much as 6.3% and touched the highest level since June 2022 after the Bloomberg News report.
Media conglomerate Vivendi SE’s Canal+ is exploring a potential listing on the London Stock Exchange, according to people familiar with the matter.
Read/listen: MultiChoice loses 1.6m customers in one year ADVERTISEMENT CONTINUE READING BELOW The French company, controlled by billionaire Vincent Bolloré, is working with advisers including BNP Paribas SA to work on the spinoff of the broadcaster, the people said. A listing could take place as soon as the end of this year, the people said, asking not to be identified discussing confidential information.
Vivendi has said it is studying a plan to split into four listed units to extract better value from its assets — which span from pay-TV to advertising, music and publishing — and to boost its share price. The proposal would create standalone listings for Havas and Vivendi’s publishing arm, besides Canal+. The French company listed its most valuable business — Universal Music Group NV — in 2021 in Amsterdam.
Read: Canal+’s offer to buy MultiChoice valued at R55bn begins ADVERTISEMENT: CONTINUE READING BELOW Canal+ has evolved from a French TV channel to a studio that creates entertainment content and a distributor of third-party channels and platforms such as Bein Sports, Netflix and Disney+, according to its website. It has 26.4 million subscribers in more than 50 countries. Its revenues rose 4.3% to €1.5 billion in the first quarter, accounting for about 36% of Vivendi’s total revenue.
London is a more attractive listing destination for Canal+ as the broadcaster becomes more international. The company has been expanding in new markets, with investments in Swedish player Viaplay Group AB and Hong Kong-based streamer Viu, which focuses on Asia and the Middle East. It has proposed to acquire South Africa’s MultiChoice Group Ltd., the continent’s biggest pay-TV company.
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