Shareholders at French media giant Vivendi have voted by more than 97.5% to separate Vivendi from Canal+, Havas and Louis Hachette Group.
The new companies will begin trading on the London Stock Exchange, Euronext Amsterdam and Euronext Growth Paris.
“We are delighted with the very high adoption rate of our spin-off project. This undisputable result confirms the strong support of our shareholders for this transformative transaction,” said chairman Yannick Bolloré.
Louis Hachette Group will bring together the 66.53% investment in Lagardère and 100% of Prisma Media.
Last December, Vivendi began to consider the separation of its constituent companies amid concern that the markets had “substantially” reduced its valuation since the spin-off of Universal Music Group in 2021. This the company said did not reflect the growth in its businesses.
Canal+ in particular has expanded back into Europe with the acquisition of M7 and into Africa through the planned takeover of Multichoice.
