Canal+ to buy minority stake in PCCW’s Viu unit

The deal will help accelerate the growth of Viu’s content and its geographical reach, while bolstering Canal ’s presence in Asia. — Bloomberg

HONG KONG: Canal+, the French broadcaster owned by billionaire Vincent Bollore’s Vivendi SE, has agreed to buy a significant minority stake in Hong Kong-listed PCCW Ltd’s Viu unit as part of a partnership agreement between the two media groups.

The European firm paid US$200mil (RM927mil) for a 26.1% stake in Viu, an over-the-top video streaming platform available in Asia, the Middle East and South Africa, according to a statement yesterday.