Vivendi Eyes London Stock Exchange Listing For Canal+ As Part Of Company Split Project

Canal+ could gain a London Stock Exchange listing as part of Vivendi‘s exploration of whether to split its business in three.

The France-based media giant has been exploring whether to separate Canal+, ad business Havas and publisher Lagardère with their own stock market listings since December. Today, it released a statement saying its study as “demonstrated the feasibility of this project under satisfactory conditions.

Under the plan, each company would keep the “decision-making center of their activities, as well as their operational teams, in France.

Canal+, however, would be listed on the London Stock Exchange, which would “reflect the company’s international dimension” as it moves towards a deal to buy Africa’s MultiChoice.

Vivendi noted “close to two thirds” of Canal+’s subscribers are outside of France, with other parts of Europe, Africa and Asia-Pacific driving growth. This would make London “an attractive solution for international investors.”

Canal+ would remain incorporated and taxed in France and not be subject to mandatory stock market regs on public offers in either France or the UK. Furthermore, should its public tender offer for Showmax parent company MultiChoice be successful, a secondary listing on the Johannesburg stock market could follow.