It is currently in the process of taking over MultiChoice, Africa’s largest pay-TV operator, in a deal worth almost $3bn (£2.4bn) that will expand the group’s international footprint further.
Canal+ is understood to have chosen the LSE because of its appeal to international investors.
The listing forms part of a wider break-up of Vivendi, the French media conglomerate controlled by billionaire Vincent Bolloré.
Vivendi plans to float its Havas advertising agency in Amsterdam, while also creating a new investment division centred on its publishing subsidiary Lagardère.
The final part of Vivendi will remain listed in Paris and oversee a portfolio of investments, most notably the group’s 10pc stake in Universal Music Group, the world’s largest record company.
The break-up plan has been orchestrated by Mr Bolloré, the 72-year-old industrialist and corporate raider who is Vivendi’s largest shareholder.
The patriarch stood down as chairman in 2018, handing over control to his son Yannick. However, he still exerts a strong influence over the business, which has been struggling for direction since the blockbuster flotation of Universal in 2021.
Vivendi has said it hopes the break-up will boost its valuations. The company has argued it suffers from a “significant” share price discount because of its status as a sprawling conglomerate.
New Canal+ shares will be distributed to existing Vivendi shareholders pending a shareholder vote on Dec 9 to approve the plan. Sources said the final valuation of the group would also hinge on feedback from analysts and investors.