Spinoffs of French tycoon's media empire make market debut [Yahoo! Finance]
VIVENDI SE UNSP/ADR (VIVHY)
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Source: Yahoo! Finance
Three spinoffs from French right-wing tycoon Vincent Bollore's Vivendi media empire debuted on stock markets on Monday, with mixed results as shares in the Canal+ television and film group tanked in London. Bollore, who has invested heavily in conservative newspapers and TV channels, successfully pushed through the break up of Vivendi, which he believes will increase the overall value of its assets. Canal+, whose movie studio is behind the "Paddington" film series, fell 15 percent on the London stock exchange in morning deals. Canal+ chief executive Maxime Saada told the French newspaper Le Figaro that the company's market debut was not expected to "follow a path paved with roses in the first weeks, the first months". "The success of this initial public offering, we will measure it in two to three years," he said. The other two spinoffs had a better start: Book publisher Louis Hachette soared 25 percent on the Euronext Growth in Paris while advertising agency Havas was up s
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