“After French media and telecom giant Vivendi’s split into four companies, the stocks of pay-TV and film company Canal+, advertising powerhouse Havas and publishing firm Louis Hachette Group, which consists of the Vivendi’s 66.53 percent stake in Lagardère and full ownership of Prisma Media, started trading in Europe on Monday. Shares of Canal+, parents of Paddington”, — write: www.hollywoodreporter.com
Shares of Canal+, parents of Paddington producer StudioCanal, are now trading on the London Stock Exchange under the ticker symbol CAN, Havas shares on the Euronext Amsterdam market under HAVAS, while the publishing business is listed on the Euronext Growth exchange in Paris under the ticker symbol ALHG. Vivendi is keeping its shares listed on the Euronext Paris exchange.
Canal+ saw its stock drop more than 10 percent in early Monday trading, hitting 252 pence, down 13.1 percent from its opening trade. Havas shares, meanwhile, were up 6.6 percent at €1.91. And Louis Hachette Group’s stock was up 25 percent at €1.40.
Shareholders of Vivendi, led by chairman Yannick Bolloré and CEO Arnaud de Puyfontaine, approved the split, designed “to fully unleash the development potential of Vivendi’s different activities,” on Dec. 9. “The group has endured a very high conglomerate discount since the distribution and listing of Universal Music Group in 2021, significantly reducing its valuation and limiting its ability to carry out external growth transactions for its subsidiaries, which are nonetheless experiencing strong dynamism in an international context marked by numerous investment opportunities,” Vivendi had emphasized earlier in the year.
Management and board member details for the post-split companies were previously detailed, with a focus on the status quo. At Vivendi, Bolloré remains chairman and de Puyfontaine CEO. At Canal+, Bolloré serves as chairman, with Maxime Saada remaining CEO. Bolloré keeps his chairman and CEO titles at Havas. And Jean-Christophe Thiery serves as the chair and CEO of Louis Hachette.
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