France’s Canal+ Group has increased its stake in Asian streaming platform Viu to 30%.

Last year, Canal+ announced a staggered investment of $300m in Viu, which included an initial investment of $200m for a 26.1% stake.

5. Canal. Canal+ is committed to developing Asia as its next growth engine

Canal+ is committed to developing Asia as its next growth engine

The French group said that “after satisfaction of key business milestones and conditions” it has released a further part of its $300m investment and increased its stake in Viu to 30%.

In a statement, Canal+ said that the additional investment is a testimony to its “confidence in Viu and its team and commitment to develop Asia as its next growth engine.”

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Launched by Hong-Kong-based PCCW Group, Viu has a presence in Asia, the Middle East and South Africa.

In addition to the $300m staggered funding, Canal+ has the option to increase its stake in Viu to 51%.

Canal+ has a presence in more than 50 countries. It has 9.5 million subscribers in France and 7.6 million in Africa. It is the leading television operator in French-speaking Africa and the largest shareholder in MultiChoice, the leader in pay-TV in English and Portuguese-speaking Africa.

Earlier this month, Canal+ increased its stake in Nordic streamer Viaplay to 29.33%.

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