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

by

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

As a long-time gamer and avid follower of the media and tech industry, I’m excited to see Vivendi’s plans for its various business units, particularly Canal+ and Havas. With my fingers crossed, I hope that this strategic move will lead to more growth and opportunities for these companies.

Vivendi intends to take Canal+ Group, its pay-TV business, public through a stock market listing in London, according to an announcement made by the French media and telecommunications corporation on Monday as part of their plans to divide into four separate entities.

“To highlight Canal+ international presence, the company plans to list on the London Stock Exchange. This decision comes as part of the ongoing merger with MultiChoice. With approximately two-thirds of its customer base located outside of France and a global distribution network for films and TV series, this London listing would appeal to international investors drawn to the group’s expansion in Africa, Europe, and Asia-Pacific markets.”

Vivendi highlighted that Canal+ would stay based in France, with French incorporation and taxation, and wouldn’t need to follow UK or French rules requiring public offers. If successful with MultiChoice, Canal+ might list secondarily on the Johannesburg stock exchange.

At the same time, Havas, Vivendi’s advertising business, will be traded on Amsterdam’s Euronext market. On the other hand, Vivendi’s publishing businesses, including Lagardère and Prisma Media in which it holds significant stakes, will be listed on Paris’ Euronext Growth exchange. Notably, both Canal+ and Havas are expected to have minimal debt. (Source: Reuters)

“I’ve noticed that Lagardère, which is part of Vivendi, along with Canal+ and Havas, have contributed to the first-quarter revenue growth at our French media and telecom giant. Our bosses, Yannick Bolloré (chairman) and Arnaud de Puyfontaine (CEO), are leading us through this success. However, Vivendi has faced a steep discount as a conglomerate, causing its valuation to plummet and restricting our subsidiaries’ capacity for external growth deals.”

Vivendi will carry on running its business and remains listed on the Euronext Paris exchange. The company intends to grow and adapt Gameloft, as well as manage investments, primarily Universal Music Group, in sectors that its staff are experienced in. Additionally, Vivendi has the capability and motivation to initiate new investments in related fields. The company also retains the right to acquire a minority stake in Lagardère SA until 2025. Lastly, Vivendi will offer certain services to the three companies that resulted from the split.

Read More

2024-07-22 10:54