Vivendi shareholders have voted overwhelmingly (97.5%) to carve out the iconic French TV division Canal+, alongside the mass media firm’s other two units—Havas (advertising and PR agency) and Louis Hachette Group (publishing empire). In an unexpected twist, the demerger will see Canal+ listed on the London Stock Exchange, a move certain to stir controversy among French politicians. Adding to the irony, one of Studiocanal’s biggest hits is the quintessentially British movie franchise Paddington. Vivendi claims this transformation of Canal+ into a more “British” entity will unlock shareholder value, allowing Canal+ to boost its activities with global part-owned subsidiaries—notably Viaplay in the Nordics (29.3% share), APAC streamer Viu (36.8%), and African giant Multichoice (45.2%). While specific plans for achieving these synergies…