Asia: Canal+ Group's stake in the OTT platform Viu increased from 30% to 36.8%

"After satisfaction of key business milestones, Canal+ Group has released the last instalment of its $300m (€279m) staggered investment and increased its stake in Viu (OTT platform) to 36.8%," announced the pay and free-TV group on 20/06/2024.

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 by Canal+ in Viu, the first two instalments of which enabled it to acquire a 26.1% stake in the platform on 21/09/2023, then to increase its stake to 30% on 26/02/2024.

"This investment is a renewed testimony to Canal+'s commitment to develop Asia as one of the Group's growth engine and underlines Canal+'s confidence in Viu and its team. A further investment, at Canal+ election, could result in an increase of Canal+'s stake in Viu to 51%," added the group.