Canal+ Group, a subsidiary of Vivendi, announces the signature of a strategic partnership with PCCW Limited, to accelerate the development of Viu, a leading streaming platform present in Asia, the Middle East and South Africa.

Canal+ will become a major minority shareholder in Viu through a staggered investment of $300 million, including an initial amount of $200 million for a 26.1% stake. It will have an option to increase its stake to 51%.

This strategic investment is motivated by Viu's leading position in the video streaming markets of Asia, the Middle East and South Africa, and by its strong growth potential in these geographies", explains the media group.

Copyright (c) 2023 CercleFinance.com. All rights reserved.