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Canal+ To Become Standalone Company As Vivendi Shareholders Approve Spinoff Plan
Canal+ is set to become a standalone company after shareholders of its parent, Vivendi, overwhelmingly approved a spin-off plan.
It has been aggressively investing in international streamer Viu and Africa’s MultiChoice, and can now look forwards to a more independent future, albeit still within the Vivendi group. “We are delighted with the very high adoption rate of our spin-off project,” said Vivendi chairman Yannick Bolloré, whose family has led the demerger plan. Vivendi’s board gave the split the go-ahead a month ago, as part of a move to tighten finances and give its verticals more flexibility.
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