PARIS, July 22 (Reuters) - Vivendi said on Monday it will pursue a listing in London for its Canal+ pay TV unit while its Havas advertising arm will be listed in Amsterdam as it detailed break-up plans.
In April, Vivendi said a feasibility study for its planned split into four separate businesses was progressing.
Canal+ and Havas would have virtually zero net debt, the company said, adding that Vivendi itself could have net debt of about 1.5 billion euros to 2 billion euros after the move.
No final decision on the break-up has been taken, Vivendi said, adding that it could be taken at the end of October before a potential extraordinary shareholder meeting in December.
Bloomberg reported earlier this month that Vivendi was working with advisers, including BNP Paribas, on the Canal+ spinoff, lifting the group's shares.
The plan comes around three years after Vivendi spun off its majority stake in Universal Music Group. The French group has traded at a significant discount since, analysts say.
Vivendi's shares were up by 0.5% in early Paris trading following Monday's announcement.
Reporting by Tassilo Hummel; Editing by David Goodman and Alexander Smith
Source: Reuters