London’s snaring of France’s Canal+ to revive moribund listing market

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Financial Times 3d ago

London’s snaring of France’s Canal+ to revive moribund listing market - Financial Times

Quick Summary:

Vivendi became the largest shareholder after an emergency recapitalisation of the Nordic media company this year, although it has signed a standstill agreement with the second-biggest investor, the Czech group PPF.“It’s a possibility.And there are others.

Canal+, which has produced hits including Versailles, is the largest of three businesses being spun out of Vivendi.If a $2.9bn deal to acquire South Africa’s MultiChoice completes early next year, the combined business could be worth as much as €10bn, according to those close to the deal.

That would make it the largest primary listing in London since Haleon was spun out of GSK in 2022 at a market valuation of about £30bn, during a period of drought for the stock exchange that led to concerns over its rules and lack of domestic UK investor appetite.