Vivendi Spin-Off Boosts Shares

Shares of French media conglomerate Vivendi (EPA:VIV) surged over 35% on Monday following the anticipated spin-off of its three key subsidiaries: Canal+, Havas, and Louis Hachette Group.

The spin-off, approved by shareholders on December 9, is reshaping the company’s profile and guiding its spun-off entities toward independent paths in Europe’s most prominent financial markets.

The restructuring saw the media giant distribute stakes in the three companies to shareholders, with each entity now preparing for independent trading.

This move attracted market attention, buoying Vivendi’s stock on Euronext (EPA:ENX) Paris, as it resumed trading as a streamlined company without the three subsidiaries.

Among the spin-offs, Canal+, a media broadcasting powerhouse, has captured significant attention as it prepares to debut on the London Stock Exchange (LON:LSEG). With an estimated valuation of €6 billion, Canal+ becomes the largest listing on the London market in two years, marking a rare vote of confidence in the post-Brexit London Stock Exchange.

The listing drew praise from British officials, with Finance Minister Rachel Reeves highlighting it as a sign of confidence in the UK’s capital markets.

Meanwhile, Havas, a globally renowned advertising company, is set to debut on Euronext Amsterdam with a reference price of €1.79 per share, valuing it at €1.78 billion. This listing underscores the growing appeal of Amsterdam as a financial hub within the EU.

Louis Hachette Group, Vivendi’s publishing arm, will trade on Euronext Growth Paris, with an initial valuation of €1.1 billion based on a reference price of €1.12 per share, positioning it to expand under the spotlight of the Parisian market. Additionally, Lagardère, majority-owned by Louis Hachette, will remain listed on Euronext Paris, ensuring a strong foothold in the French capital.