MultiChoice suitor Canal+ to pursue London listing

Vivendi Group will seek a listing for its pay-television business, Canal+, in London, the French media conglomerate said on Monday.Canal+ is currently engaged in a bid to acquire JSE-listed MultiChoice Group in a R125/share all-cash deal, pending regulatory and other approvals.The move by Vivendi is part of a plan to unbundle the sprawling media giant, which will also include the listing of its advertising business, Havas, in Amsterdam.A London listing would represent an attractive solution for international investors likely to be interested in the group.Under the plan, Canal+ will be listed on the London Stock Exchange “to reflect the company’s international dimension, particularly as part of the ongoing combination with MultiChoice.”“With close to two-thirds of its subscribers outside of France, a film and TV series distribution network present on all continents, and growth drivers resulting from its recent developments on the African, European and Asia-Pacific markets, a London listing would represent an attractive solution for international investors likely to be interested in the group,” Vivendi said in a statement.“Canal+, depending on the success of its public tender offer for MultiChoice, could be subject to a secondary listing on the Johannesburg stock market.”Vivendi is controlled by the French billionaire Vincent Bolloré.‘Three-pronged break-upAccording to a report in the Financial Times, almost two-thirds of Canal+’s subscribers live outside France – and that’s before the MultiChoice deal is even consummated.“The final part of Bolloré’s three-pronged break-up will bring together Vivendi’s publishing operations, including its 63.5% shareholding in Lagardère and Prisma Media, into a new company to be called Louis Hachette Group,” the FT said.This new group would be listed on the Euronext Growth market in Paris, with a separate listing of subsidiary Lagardère on Euronext Paris. — NewsCentral Media

MultiChoice suitor Canal+ to pursue London listing

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MultiChoice suitor Canal+ to pursue London listing

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