‘Paddington’ Firm Canal+’s Shares Down On Day One Of London Trading
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deadline.comShares in Paddington producer Canal+ dropped 20% this morning after the French pay-TV giant was spun off from Vivendi and listed in London.
Canal+ debuted on the London Stock Exchange earlier, with execs attending an opening morning ceremony to mark the major move.
The British government hailed the decision to list in London as a “vote of confidence” in the UK, although shares were down 20% just after 12 p.m. (4 a.m.
PT) local time at about 231p. This gives Canal+ a valuation of around £2.3B ($3.1B), well below the €5B ($5.3B) estimate made by JP Morgan analysts last month.
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