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Vivendi SE said that its Canal+ broadcasting business should be listed on the London Stock Exchange and that the Havas advertising agency is likely to trade in Amsterdam, as French billionaire Vincent Bollor\u00e9 moves ahead with plans to break up his sprawling media and entertainment empire.\u00a0<\/p>\n
Louis Hachette Group, a new company that brings together Vivendi\u2019s publishing and distribution assets, would be listed in Paris, the company said in a statement on Monday. Following the split, the Bollor\u00e9 Group would hold about 30.6% of the shares of Canal+, Louis Hachette Group and Havas respectively. Because of the voting rights structure in Havas, Bollor\u00e9 Group will have more than 40% of the voting rights.<\/p>\n
Bollor\u00e9 is often\u00a0dubbed the \u201cFrench Murdoch\u201d<\/a>\u00a0after building out a powerful media empire that spans broadcast, cinema, publishing, music, cinema and gaming. The plan to break up the business marks a shift away from France as the mogul pushes to internationalize his media assets.\u00a0<\/p>\n Vivendi said the feasibility study for its split plan favored London for Canal+ \u201cto reflect the company\u2019s international dimension,\u201d confirming an earlier\u00a0Bloomberg News report<\/a>. The pay-TV unit, which is in the process of\u00a0buying<\/a>\u00a0MultiChoice Group Ltd. in Africa, counts two-thirds of its subscribers outside of France. Still, the business will remain incorporated and taxed in its home country.\u00a0<\/p>\n A Dutch listing for ad agency Havas is the \u201cbest possible position to carry out its new global strategy,\u201d Vivendi said. The new Louis Hachette Group would be listed in Paris on Euronext Growth, and include the world\u2019s third-largest book publisher, Hachette, as well as the\u00a0media arm<\/a>\u00a0that the Bollor\u00e9 family has been expanding through acquisitions.\u00a0<\/p>\n All three of the newly split-off companies will keep their \u201cdecision-making center\u201d and operational teams in France, Vivendi said. The remaining Vivendi business would remain listed in Paris and manage the firm\u2019s investments in Universal Music Group and Telecom Italia, as well as smaller video game company Gameloft.<\/p>\n Vivendi said it was weighing a breakup in December to boost its share price, and said it was suffering from a \u201cconglomerate discount\u201d that was limiting its subsidiaries\u2019 ability to grow. It was a reversal for Bollor\u00e9, who\u2019d tried to create synergies between the group\u2019s activities, turning intellectual property such as Paddington Bear into films, books and marketing campaigns in an effort to build a European empire to rival Netflix Inc. and Walt Disney Co.\u00a0<\/p>\n A decision could be made at the end of October and voted on by shareholders in December, Vivendi said. The split needs investors holding at least two-thirds of Vivendi\u2019s shares to approve the deal before it goes ahead.\u00a0<\/p>\n \u201cIf we were to go ahead, we will need to convince all the shareholders,\u201d Havas Chief Executive Officer Yannick Bollor\u00e9, who is Vincent\u2019s son, told Bloomberg in June. \u201cOur peers are listed, so we know investors that are interested in this sector.\u201d<\/p>\n<\/div>\n CEO Daily provides key context for the news leaders need to know from across the world of business. Every weekday morning, more than 125,000 readers trust CEO Daily for insights about\u2013and from inside\u2013the C-suite. Subscribe Now<\/a>.<\/div>\nRecommended Newsletter:<\/strong><\/p>\n