French media and communications giant Vivendi is split into four companies: pay TV and film company Canal+, advertising giant Havas, and publishing company Louis Hachette Group, which owns 66.53% of Vivendi’s Lagardère and 100% ownership of Prisma Media. The company began trading in Europe on Monday.
Shares in Canal+, the parent company of Paddington producer StudioCanal, currently trade on the London Stock Exchange under the ticker symbol CAN, while Havas shares trade on the Euronext Amsterdam market under HAVAS, and its publishing business is listed on the Euronext Growth Exchange in Paris under the ticker symbol. Symbol ALHG. Vivendi will maintain its stock listing on the Euronext Paris Exchange.
Canal+ shares fell more than 10% in early trading on Monday, dropping 13.1% from the open to 252p. Meanwhile, Havas shares rose 6.6% to 1.91 euros. Meanwhile, the Louis Hachette Group’s share price rose by 25% to €1.40.
Vivendi’s shareholders, led by Chairman Yannick Bollore and CEO Arnaud de Puyfontaine, announced on December 9 that the company aims to “maximize the development potential of Vivendi’s various activities”. Approved the split. Universal Music Group’s planned distribution and public listing in 2021 will significantly reduce its valuation and limit its ability to execute external growth transactions with its subsidiaries. Nevertheless, it is experiencing strong dynamism in an international landscape characterized by numerous investment opportunities,” Vivendi emphasized earlier this year.
Details of the management and board members of the post-split company were previously detailed with a focus on the current situation. At Vivendi, Bollore will remain chairman and CEO of de Puyfontaine. Bolloré will remain chairman of Canal+, while Maxime Saada will remain CEO. Mr. Bolloré will retain his title of Chairman and CEO at Havas. Jean-Christophe Thierry is the Chairman and CEO of Louis Hachette.
