The separation of Canal+ from Vivendi could happen before the end of 2024 after it announced a shareholder’s meeting for 9 December to vote on the plan.
In a statement Vivendi said that Yannick Bolloré had taken note of concerns raised by employee representatives in response to the last December’s feasibity study.
The study was launched amid concern that following the listing of Universal Music Group in 2021 the valuation of the French media giant was suffering.
Under the plans Canal+ would remain a company incorporated and taxed in France. There is also the possibility of a secondary listing on the Johannesburg stock market, depending on the success of its public tender offer for MultiChoice.
Havas, with the majority of its activities being carried out internationally, would be listed as a Dutch public limited liability company (NV) on the Euronext Amsterdam stock exchange, where Universal Music Group has already been listed.
A newly named company, Louis Hachette Group, would bring together the assets owned by Vivendi in publishing and distribution, and be listed on Euronext Paris.
Vivendi plans to remain a leading player within the creative and entertainment industries, also listed on Euronext Paris. Vivendi would continue to develop Gameloft and actively manage a portfolio of investments, among them Universal Music Group. It would also provide a number of services to the three companies.
Decisions from the relevant market authorities are expected over the next few days.
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