PCCW Limited and CANAL+ Group jointly announced the formation of a strategic partnership to accelerate the growth of Viu. As a result of the transaction, CANAL+ will become a significant minority shareholder in Viu through a staggered investment of $300 million which includes an initial investment of USD 200 million resulting in CANAL+ holding a 26.1% stake in Viu. In addition to the $300 million, a further investment, at CANAL+ option, could result in an increase of CANAL+'s stake in Viu to 51%.

This new strategic partnership will enable the further growth of Viu, leveraging the global strength and expertise of CANAL+ through various initiatives including collaboration on premium productions and content creation, expansion of global market reach for Viu, and continual user experience improvement. The partnership will allow CANAL+ to take a major step in developing Asia as its next growth engine. PCCW was advised by Jefferies as financial advisors and Slaughter & May as legal advisors.

CANAL+ Group was advised by Goldman Sachs and Ernst & Young as financial advisors and Herbert Smith Freehills as legal advisor.