French broadcasting giant Canal+ is ramping up its global ambitions as it prepares for a spin-off from parent company Vivendi and a prospective listing on the London Stock Exchange. Speaking at the company’s Capital Markets Day, CEO Maxime Saada highlighted Canal+’s focus on expanding into high-growth markets in English-speaking Africa and Asia, positioning the broadcaster as a global content leader.
“The focus is definitely towards English-speaking countries. And of course, London is a much more adequate location to list than any other location in Europe,” Saada said.
Expansion in Africa and Asia
Canal+ has long been a dominant force in French-speaking Africa and is now looking to increase its footprint in English-speaking regions of the continent, facilitated by its near-finalized acquisition of South Africa’s MultiChoice. MultiChoice, a leader in African broadcasting, is seen as pivotal to Canal+’s goal of growing its customer base beyond 50 million subscribers.
In Asia, Canal+ plans to leverage its stake in Hong Kong-based streaming platform Viu to tap into the region’s burgeoning streaming market. The company also aims to strengthen its position in Europe through its investment in Swedish streaming platform Viaplay.
Diversified Content and Production
Since its launch in 1984 as a pay-TV channel in France, Canal+ has become one of the world’s top broadcasters of live sports and a significant player in film production through its Studiocanal unit, which is behind hits like the Paddington films. The company’s diversified portfolio, including live sports, streaming services, and film production, underpins its ambition to evolve into a global content powerhouse.
Upcoming London Listing
The anticipated London float, expected after Canal+’s spin-off from Vivendi in December, could be the largest listing in the UK since 2022. While Vivendi’s chairman Yannick Bollore has valued Canal+ at around €6.8 billion, the exact valuation remains to be confirmed. Shareholders will vote on the demerger plan at an extraordinary general meeting on December 9.
The spin-off has faced opposition from minority shareholders, including CIAM and Phitrust, who argue that it will consolidate control of the Bollore family, which will retain a 31% stake in Canal+ after the separation. To address concerns, Bollore announced plans to appoint an independent lead director to ensure equal shareholder rights.
