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Shares in French channel Canal+ fell more than 10% after debuting on the London stock market on Monday.
Media holding company of life Shareholders agreed to split Canal+ – a pay TV and production company known for its live sports broadcasts and Studiocanal, which makes the Paddington franchise – last week. Havas and Louis Hachette Group are also being spun off from the Paris-based media conglomerate and will be listed separately.
“We are pleased with the very high adoption rate of our spin-off project. This indisputable result confirms the strong support of our shareholders for this transformative transaction,” said Yannick Bolloré, chairman of the board of Vivendi last week after more than 97 years. The % of votes cast approved the plan.
This is a developing story and will be updated soon.
