Chancellor welcomes CANAL+ to London

Chancellor of the Exchequer Rachel Reeves welcomed Paris headquartered, international media and entertainment leader, CANAL+ to No11 today (Friday 13^thDecember).  

The company is due to list on the London Stock Exchange on Monday 16^th December, boosting the UK stock market after recent listings from protein shake start-up Applied Nutrition and technology company Raspberry Pi.  

Ahead of the listing, the Chancellor invited CANAL+ Chief Executive Officer Maxime Saada and Chief Financial Officer Amandine Ferré to No11 to discuss the UK's attractiveness as a listings destination.

They spoke about the reasons for choosing the UK, including London's strength as a gateway for international investors. They also raised the company's desire – as a global media and entertainment company with nearly two-thirds of its subscribers outside of France - to be listed on an exchange where its value could be fully realised by international investors and media sector specialists.

The Chancellor said she was excited by the listing, which demonstrates the enduring appeal of the UK's capital markets – which have raised more capital equity this year than the next three European exchanges combined.  

She highlighted her intention to make the UK the best place to start and grow a business, including by unlocking more finance for businesses through measures such as pension reform, and noted that growth is the government's number one priority to raise living standards in every part of the UK.   

Rachel Reeves also pointed out that CANAL+'s presence in the UK would further strengthen the UK's position as a world-leading hub for creative industries, which generate £125 billion a year for the economy. 

Speaking after the meeting, Chancellor of the Exchequer Rachel Reeves said:

“Economic growth is my number one mission - and attracting more investment to the UK is key. I'm delighted that CANAL+, a leading international media company, has chosen the UK. Their decision is a vote of confidence in the UK's capital markets, the stability we are delivering and our plan for change.” 

CANAL+ CEO Maxime Saada added:

“It was a pleasure to meet with the Chancellor today to discuss why we believe London is the best location for CANAL+, as a global media and entertainment powerhouse, to list as a publicly traded company. We look forward to the start of our journey as a listed company in our own right on Monday. I would like to thank the Chancellor for making us feel so welcome in the United Kingdom.”