Shares of Viaplay Group surged Tuesday following reports that its two largest shareholders, Canal+ and PPF, are considering a bid to take the Swedish streaming platform private.
According to sources familiar with the matter, Canal+ and PPF are weighing a full buyout of the remaining shares of Viaplay, potentially leading to the company’s delisting from Nasdaq Stockholm. The potential move comes after the two firms completed a restructuring of the Nordic streaming group in 2024, becoming Viaplay’s largest shareholders.
Both Canal+ and PPF declined to comment on the reports, as did representatives for Viaplay, Bloomberg News reported.
The news sent Viaplay’s stock price climbing, with shares reaching a high of 1.56 Swedish krona apiece during Tuesday trading. As of midday, the stock was up more than 5 percent, trading at 1.44 Swedish krona (approximately 3.30 Czech koruna).
Year-to-date, Viaplay’s shares have risen over 50 percent, giving the company a current market capitalization of roughly 6.6 billion Swedish krona (approximately 15 billion Czech koruna).
The potential deal comes as Viaplay, founded in 2018, continues to navigate a challenging streaming landscape. The company operates streaming services, as well as TV and radio channels, primarily in the Nordic region, the Netherlands, and Poland.
While currently unprofitable, Viaplay has demonstrated solid revenue generation, posting 17.6 billion Swedish krona in revenue last year, according to company filings. However, the company reported a loss of 484 million Swedish krona in 2023.
Canal+ and PPF each hold approximately 29.3 percent stakes in Viaplay, meaning they would necessitate to acquire slightly more than 40 percent of the company’s shares to take it private. Analysts estimate the cost of acquiring the remaining shares, including a premium, to be between 2.6 and 3 billion Swedish krona. PPF’s share of the buyout would likely be between 1.3 and 1.5 billion Swedish krona (approximately 3 to 3.4 billion Czech koruna).
Taking the company private could streamline decision-making and reduce reporting requirements, according to portfolio manager Tomáš Pfeiler. “They won’t have to explain every step to shareholders,” he said.
Canal+ and PPF initially invested in Viaplay in the summer of 2023, completing a restructuring in 2024 that secured them their current stakes in exchange for a 3.1 billion Swedish krona capital injection, effectively rescuing the company from potential collapse.
PPF Group has a long history in the media business through its Central European Media Enterprises, which includes television network Nova and platform Oneplay. Last year, the group sold its 15.7 percent stake in German media company ProSiebenSat.1 Media to MediaForEurope, the investment vehicle of the heirs of former Italian Prime Minister Silvio Berlusconi.
