Prelude to the Best Sommelier of Canada Contest | SaltWireOSLO -Shares in Swedish streaming company Viaplay fell 18% on Tuesday after the company said it is in talks with three major shareholders as well as lenders and bondholders on a recapitalisation, and is in discussions to sell non-core operations.
Under pressure to stabilise its business as rising living costs dented consumer demand, Viaplay in June replaced its CEO and has repeatedly warned of a weakening business environment.A restructuring of the group's balance sheet was widely anticipated, but the earnings delay pointed to a drawn-out process, analysts said.