Vivendi Eyes Canal+ Stock Listing in London as Part of Split Into Four

Vivendi will pursue a inventory market itemizing for its Canal+ Group pay-TV unit in London, the French telecom and media big mentioned on Monday in an replace about its examine to separate into 4 corporations.

“Canal+ can be listed on the London Inventory Alternate to mirror the corporate’s worldwide
dimension, notably as a part of the continued mixture with [South African pay-TV giant MultiChoice],” the corporate mentioned. “With near two-thirds of its subscribers outdoors of France, a movie and TV collection distribution community current on all continents, and progress drivers ensuing from its latest developments on the African, European, and Asia-Pacific markets, a London-based itemizing would signify a sexy resolution for worldwide buyers prone to have an interest within the group.”

Nevertheless, Vivendi additionally emphasised that Canal+ “would stay an organization included and taxed in France and wouldn’t be topic to obligatory inventory market laws on public gives in both the UK or France.” As well as, relying on the success of its public tender supply for MultiChoice, Canal+ “might be topic to a secondary itemizing on the Johannesburg inventory market,” Vivendi famous.

In the meantime, Vivendi’s promoting enterprise Havas can be listed in Amsterdam on the Euronext Amsterdam market, whereas its publishing enterprise consisting of Lagardère, wherein it owns a majority stake, and Prisma Media can be listed on the Euronext Progress change in Paris. Canal+ and Havas would have nearly zero web debt, the corporate additionally famous on Monday.

Progress at acquired writer Lagardère, in addition to Canal+ and Havas helped drive first-quarter income on the French media and telecommunications conglomerate, which is led by chairman Yannick Bolloré and CEO Arnaud de Puyfontaine. “Vivendi has endured a considerably excessive conglomerate low cost, considerably decreasing its valuation and thereby limiting its means to hold out exterior progress transactions for its subsidiaries,” the agency mentioned earlier within the 12 months in explaining the plan for a break up.

The remainder of Vivendi would proceed to function and be listed on the Euronext Paris market. “Vivendi would proceed to develop and remodel Gameloft and actively handle a portfolio of investments (foremost amongst them being Common Music Group) in sectors completely acquainted to its groups for a few years, whereas having the means and ambition to provoke new investments in associated actions,” the corporate mentioned on Monday. “Vivendi would additionally retain the minority curiosity it may purchase in Lagardère SA via the train of the switch rights issued as a part of the 2022 public tender supply, which stay exercisable till June 15, 2025. Vivendi would additionally present a sure variety of providers to the three listed corporations ensuing from the break up.”