Vivendi Board Approves Business Split Plan

Vivendi's supervisory board has approved a plan to split the company into three distinct entities: Canal+, Havas, and Louis Hachette Group, with a shareholder vote scheduled for December 9. If approved, the split will allow each company to operate independently, with Canal+ trading on the London Stock Exchange, Havas on Euronext Amsterdam, and Louis Hachette on Euronext Growth in Paris starting December 16. The restructuring aims to enhance the individual growth potential of Vivendi's subsidiaries, which have been undervalued since the Universal Music Group's distribution in 2021. Former Paramount Global CEO Bob Bakish is expected to join the Canal+ board, which will be led by Yannick Bolloré. Canal+ will commence trading with debts of €400 million and will have a new management team. Each Vivendi shareholder will receive shares in each new entity on a one-to-one basis while retaining their Vivendi shares.