Macron Prefers French Media Companies Be in Paris: Variety

(Bloomberg) -- French President Emmanuel Macron said he would prefer French media companies be traded in Paris rather than elsewhere, as France’s Vivendi SE says it’s leaning toward listing pay-TV unit Canal+ in London as part of a plan to break up the conglomerate.

“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 in an interview with Variety published on Wednesday. “They still remain in Europe. And that’s what matters the most. I’d prefer them to be in Paris,” he added.

The French President’s comment came in response to a question about listing location that referred both to Canal+ and French TV production company Banijay Group NV, which is traded in Amsterdam.

Vivendi, controlled by billionaire Vincent Bolloré, said in July that the feasibility study for its split plan favored London for Canal+ “to reflect the company’s international dimension.”