Asia/Canal+: the group's stake in the OTT platform Viu increased from 26.1% to 30%

"After satisfaction of key business milestones and conditions, Canal+ Group has released a further part of its $300m (€277.3m) staggered investment and increased its stake in Viu (OTT platform) to 30%," announced the French pay and free-TV group on 26/02/2024.

Canal+ had entered into a strategic partnership with the Hong Kong telecommunications group PCCW in order "to accelerate the growth of Viu, a leading pan-regional OTT video service with presence across Asia, the Middle East, and South Africa" on 21/06/2023. This partnership provided for a staggered investment of $300m (€264m) which included an initial investment of $200m (€183m) resulting in Canal+ holding a 26.1% stake in Viu.

"This additional investment is a testimony to Canal+ Group’s confidence in Viu and its team and commitment to develop Asia as its next growth engine through its strategic partnership with PCCW Group to fuel the growth of Viu, a leading OTT streaming service in Asia, Middle East, and South Africa. In addition to the $300m staggered funding, a further investment, at Canal+ Group option, could result in an…