Canal+, the international pay-TV giant and owner of the studio behind the Paddington film franchise, is set to debut on the London Stock Exchange. This listing is seen as a significant boost for the UK capital's stock market, which has faced challenges in recent years.
Canal+ aims to establish itself as a formidable European streaming competitor against industry giants like Netflix, Disney+, and Amazon. With a presence in over 50 countries and nearly 27 million subscribers, Canal+ is well-positioned to expand its influence in the global streaming market. The company is also nearing the completion of a $2.9 billion acquisition of MultiChoice, Africa’s largest pay-TV operator, and has invested in Viu, a Hong Kong-based streaming platform.
The upcoming listing is seen as a potential turning point for the London Stock Exchange, which has experienced a decline in new listings and an increase in companies delisting or relocating to other financial centers. Canal+'s listing is expected to achieve a market value of €6 billion, according to Vivendi executives and analysts at JP Morgan. The financial community is closely watching this development, as it could signal renewed interest in the UK stock market.
Canal+ executives discussed the attractiveness of the UK as a destination for listings with Chancellor Reeves, who emphasized the importance of attracting investment to the UK for economic growth. The Chancellor expressed her delight that Canal+ has chosen to list in the UK, framing it as a testament to the stability and potential of the UK’s capital markets. The outcome of Canal+'s listing could have significant implications for the future of the London market.