Vivendi Group will search an inventory for its pay-television enterprise, Canal+, in London, the French media conglomerate mentioned on Monday.
Canal+ is at present engaged in a bid to amass JSE-listed MultiChoice Group in a R125/share all-cash deal, pending regulatory and different approvals.
The transfer by Vivendi is a part of a plan to unbundle the sprawling media large that can even embody the itemizing of its promoting enterprise, Havas, in Amsterdam.
Below the plan, Canal+ can be listed on the London Inventory Alternate “to replicate the corporate’s worldwide dimension, notably as a part of the continuing mixture with MultiChoice”.
“With near two-thirds of its subscribers exterior of France, a movie and TV sequence distribution community current on all continents, and development drivers ensuing from its latest developments on the African, European and Asia-Pacific markets, a London itemizing would symbolize a lovely answer for worldwide buyers prone to have an interest within the group,” Vivendi mentioned in an announcement.
“Canal+, relying on the success of its public tender supply for MultiChoice, may very well be topic to a secondary itemizing on the Johannesburg inventory market.”
Vivendi is managed by the French billionaire Vincent Bolloré.
‘Three-pronged break-up
In line with a report within the Monetary Instances (paywall), nearly two-thirds of Canal+’s subscribers stay exterior France – and that’s earlier than the MultiChoice deal is even consummated.
“The ultimate a part of Bolloré’s three-pronged break-up will deliver collectively Vivendi’s publishing operations, together with its 63.5% shareholding in Lagardère and Prisma Media, into a brand new firm to be referred to as Louis Hachette Group,” the FT mentioned.
This new group can be listed on the Euronext Development market in Paris, with a separate itemizing of subsidiary Lagardère on Euronext Paris. — © 2024 NewsCentral Media
