Canal+ has acquired a 12% stake in Viaplay, a pay-TV specialist in the Nordic countries, the Vivendi subsidiary announced on Thursday evening.

The announcement sent Viaplay's share price on the Stockholm Stock Exchange soaring by over 30% in early trading on Friday morning.

The transaction comes at a time when Viaplay has so far had a difficult year on the stock market, with the media group having revised its annual targets downwards before withdrawing them altogether at the beginning of the month in the face of pressurized revenues and soaring fixed costs.

The entertainment platform - which was forced to appoint a new CEO and resign itself to launching a new strategic plan involving, among other things, staff cuts - had fallen by more than 40% yesterday following the release of disappointing quarterly results.

Since the beginning of the year, its share price has plummeted by 82%.

In Paris, Vivendi shares also reacted favorably to this announcement, posting a gain of 1.6% at the start of trading.

The financial terms of the operation have not been disclosed.

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