Shares of French broadcaster Canal+ fell 22% following their debut on the London Stock Exchange, trading at 226 British pence ($2.86). Canal+ was spun off from media conglomerate Vivendi, which aims to unlock value through this separation. CEO Maxime Saada highlighted the company’s growth, with two-thirds of its 9 million subscribers now outside France, and stated it will selectively expand its sports broadcasting. The spin-off has garnered strong shareholder support, with Vivendi’s Paris-listed shares rising 41.74%. The listing is seen as a potential boost for the struggling UK capital markets amidst high delistings this year.
