Business

Vivendi to List Canal+ on London Stock Exchange Amid Split

Jul 22, 2024 1 min read

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Vivendi SE has announced plans to list its Canal+ broadcasting business on the London Stock Exchange and its Havas advertising agency on the Amsterdam Stock Exchange as part of a strategic split of the company. The move, orchestrated by French billionaire Vincent Bolloré, aims to divide Vivendi's media and entertainment empire into distinct entities. Additionally, Louis Hachette Group, which will encompass Vivendi's publishing and distribution assets, will be listed in Paris. Post-split, Bolloré Group is expected to hold approximately 30.6% of shares in both Canal+ and Havas.

The proposed separation is expected to leave Canal+ and Havas with virtually zero net debt, while Vivendi could end up with a net debt of around 1.5 billion to 2 billion euros. A final decision on the split is anticipated by the end of October, with an extraordinary shareholder meeting likely to take place in December to finalize the move. The feasibility study backing this plan also suggests the possibility of a secondary listing for Canal+ on the Johannesburg stock market, should it successfully acquire Africa's MultiChoice. Following the announcement, Vivendi's shares saw a modest increase of 0.5% in early Paris trading.

#finance #markets #entertainment

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