French media company Vivendi’s plan to separate into four businesses is moving a step closer after receiving approval from its supervisory board on Tuesday.
The proposal, which was first revealed back in December 2023, will be put to a vote by the company’s shareholders on Dec. 9 on whether to spin off pay TV giant Canal+, advertising giant Havas and publisher Louis Hachette Group. The split of Canal+ and Louis Hatchette Group will require approval by a two-thirds majority, while the separation of Havas will require a simple majority of votes.
“Should the spin-off project be approved by the Shareholders’ Meeting, the first listing of the shares of the three companies would take place on December 16, 2024, allowing for trading on the stock exchange from this date,” the company said in a statement.
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