(Reuters) – The newly spun-off entities of Vivendi (OTC:), Canal+, Havas and the Louis Hachette group, will start operations in London, Amsterdam and Paris respectively on Monday, after the French media conglomerate’s shareholders voted overwhelmingly in favor excessive value. -Stakes cut up the challenge on December 9.
The Canal+ channel is anticipated to debut in London, which would be the largest new inventory market itemizing in two years.
The corporate’s choice to checklist in London, introduced in July, was a much-needed increase to the British inventory market which has seen a sequence of exits and few high-profile arrivals lately.
British Finance Minister Rachel Reeves hailed it Friday as a “vote of confidence” within the nation’s market.
Promoting firm Havas will debut on Euronext (EPA:) Amsterdam, whereas the Louis Hachette publishing department might be listed on Euronext Development Paris. Lagardère, majority owned by Louis Hachette following the spin-off, will stay listed on Euronext Paris.
On the respective reference costs of 1.79 euros and 1.12 euros, the implied valuation of Havas is 1.78 billion euros ($1.87 billion) and that of Louis Hachette is 1.1 billion euros. euros, Euronext stated on Friday.
JPMorgan analysts estimate Canal+ at round 6 billion euros, Havas at 2.5 billion euros and Louis Hachette at round 2.2 billion euros.
Vivendi is resuming its negotiations on Euronext Paris with out the fallout and stays a member of the blue-chip index for now, though it may exit at a later date, supervisory board chairman Yannick Bolloré stated.
($1 = 0.9514 euros)
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