Paddington firm listed in UK to protect British bears

Paddington will not be Americanized for American audiences, the owner of the company behind the film franchise has promised.

Maxime Saada, chief executive of Canal+, said, “This is the most British bear… It has attracted a lot of people because it is authentic.”

The news comes as the French streaming company, which owns the film rights to the iconic British bear, began trading on the London Stock Exchange on Monday.

Chancellor Rachel Reeves described it as a “vote of confidence” in the London market, which has struggled to attract new business in recent years.

Canal+ is being spun off from the Vivendi media stable, and is reportedly planning further global expansion from its new London base.

Mr Saada told the BBC: “We have had some feedback from American companies that Paddington Bear is not American enough.

“To maximize the Paddington box office, we could have made an American film.”

But he said the heritage of the British bear would be preserved.

“It’s really our most prized intellectual property… We’re very careful about being very close and authentic to its roots.”

Canal+ is behind streaming hits like Versailles and its subsidiary StudioCanal has the rights to Total Recall, Shaun the Sheep and Bridget Jones franchises and the recent Amy Winehouse biopic, Back to Black, as well as three films. Movies featuring bears chewing marmalade.

The latest Paddington film, released last month, shows the bear and his adoptive British family returning to their roots in Peru amid mishaps.

Mr. Saada said that Paddington 4 is “definitely not coming tomorrow” but confirmed that the company is working on a follow-up and an animated series.

Canal+ operates in 50 countries and has 27 million subscribers, two-thirds of which are outside France.

The firm’s London listing follows years of concerns over the exchange’s weak performance, with companies such as manufacturing group Ashstead and microchip designer Arm moving to list overseas. Others have opted to go private.

London Stock Exchange is ready for this Worst year for departures since the 2008-09 financial crisisSome 88 companies have removed or transferred their primary listings from the London Main Market, with only 18 replacing them.

Economists say a thriving stock market is important for boosting the economy because it helps businesses raise money by allowing them to sell shares.

This gives companies the money they need to borrow and invest in new projects, creating jobs and expanding, which in turn drives economic growth.

Mr Saada said that the new flexibility in rules for the LSE and the UK’s strong creative industry played a role in motivating him to choose London.

“We have suddenly generated a lot of curiosity from US investors, British investors, investors around the world and we don’t think that could have happened by listing anywhere else in the European region.”

“We have a long history of working with the creative industries in the UK and that is very important to us.”

The flotation is expected to value the company at up to €6bn (£5bn).