Hong Kong Billionaire Richard Li’s Streaming Platform Viu Sells $200 Million Stake To Canal+

Viu, the video streaming unit of Hong Kong billionaire Richard Li’s PCCW, is selling a 26.1% stake for up to $300 million to Canal+, the pay-TV group controlled by French billionaire Vincent Bolloré’s media conglomerate Vivendi.

Canal+ has made an initial payment of $200 million for the stake, the two companies said in a statement on Wednesday. The equity investment could reach $300 million if certain financial targets are met. Following the transaction, Canal+ will have the option to increase its stake in Viu to 51%, according to the statement.