French President Emmanuel Macron has voiced his preference for French media companies to be listed on the Paris stock exchange, a statement that comes amid Vivendi SE’s plans to list its pay-TV unit Canal+ in London, Bloomberg reports.
In an interview with Variety published Wednesday, Macron expressed concern over the trend of French companies seeking listings in other markets, specifically citing Canal+ and Banijay Group NV, which is traded in Amsterdam.
“We have the market depth, but if they go abroad, it’s because they have the right analysts and investors in these other places,” Macron said. “They still remain in Europe. And that’s what matters the most. I’d prefer them to be in Paris.”
The French President’s remarks appear to be a direct response to Vivendi’s July announcement that its feasibility study for a planned breakup of the conglomerate favored London as the listing location for Canal+. The company cited the “international dimension” of Canal+ as the rationale behind the London choice.
Vivendi, controlled by billionaire Vincent Bolloré, is currently considering a split that would see Canal+ operate as a separate entity. The move has sparked debate in France, with many expressing concern over the potential loss of a major media company to another market.
Macron’s comments highlight the French government’s desire to retain control over key media companies and ensure their contribution to the French economy. However, it remains unclear whether his statement will sway Vivendi’s decision, as the company is likely to prioritize factors like market depth and investor interest when making its final choice.
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