(News Bulletin 247) – Oddo BHF maintains its ‘outperformance’ rating on Vivendi shares, with an unchanged price target of 13 euros.
Yesterday, Canal+ announced the acquisition of a 12% stake in the capital of Viaplay, a pay-TV specialist mainly active in Sweden, Norway, Denmark and Finland. Viaplay is also expanding internationally via its OTT offer (11 markets in total and ~2.6 million subscribers).
Even if it is for the moment only a very minority stake, this acquisition is part of Canal+’s strategy to strengthen its pay TV activities in Europe, analyzes Oddo BHF in essence.
‘Vivendi’s strategy in pay TV therefore aims to strive for complete continental coverage. Viaplay would add the Nordic brick to Vivendi’s device, concludes the analyst.
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