Canal+ Plans London Listing Amid Vivendi Split

Vivendi Group plans to list its Canal+ pay-television business on the London Stock Exchange as part of a strategy to separate its operations into four independent entities. This decision aligns with Canal+'s international subscriber base, with nearly two-thirds of its customers residing outside France, particularly as it pursues an acquisition of MultiChoice Group. Alongside Canal+, Vivendi will list its advertising agency Havas in Amsterdam and a new entity, Louis Hachette Group, in Paris. The split follows a feasibility study aimed at enhancing Vivendi's market valuation. Despite the separation, Canal+ will remain incorporated and taxed in France, with potential for a secondary listing in Johannesburg. Vivendi currently has a valuation of approximately €11.4 billion and aims to reduce its net debt post-split.