Canal Plus France will issue an initial public offering (IPO) of Lagardère’s 20% stake in the pay-television company, The Wall Street Journal reports. Lagardère’s stake in Canal Plus France is estimated to be worth about $1.36 billion. The IPO is expected to be started in April 2011.

Vivendi, Lagardère and Canal Plus France’s parent company, had previously failed to acquire the Lagardère stake. BNP Paribas and JP Morgan are acting as advisors for Lagardere, while Societe Generale and Nomura are advising Vivendi on the listing, adds Reuters.

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