Sweden's Viaplay completes recapitalisation, Canal+ and PPF raise stakes
09/02/2024 10:14
HELSINKI, Feb 9 (Reuters) - Swedish streaming group
Viaplay VPLAYb.ST has completed a recapitalisation that
included a capital injection totalling 4 billion crowns ($381.7
million), it said on Friday.
It said in a statement France's Groupe Canal+ and Czech
Republic's PPF in a rights issue and a directed share issue
raised their stakes in Viaplay to 29.33% and 29.29%,
respectively.
Under pressure to stabilise its business as rising living
costs dent consumer demand, Viaplay in December said it would
raise equity and restructure its debt, after repeatedly warning
of a weakening business environment.
($1 = 10.4797 Swedish crowns)
(Reporting by Essi Lehto, editing by Anna Ringstrom)
((essi.lehto@thomsonreuters.com; +358505412375;))