Thursday, September 23, 2021

France's Canal+ increases its stake from 12% to 15% in South Africa's MultiChoice.

France's Canal+ Group has increased its stake in South Africa's MultiChoice Group further, from 12% to 15%, Reuters reported on Thursday.

Vivendi's VIV.PA Canal+ raised its stake significantly last year in Africa's largest pay-TV group,, leading to speculation at the time of a possible takeover. 

MultiChoice at the time told TVwithThinus that "As a publicly held company, MultiChoice regularly engages with its strategic partners and maintains an open dialogue with the investment community. The group’s policy is not to comment on its individual shareholders nor on its interactions with them".

MultiChoice said that it "remains committed to acting in the best interests of all shareholders and to create sustainable long-term shareholder value".

On Thursday MultiChoice reiterated this pro forma holding statement and said that it remains committed to acting in the best interests of shareholders and creating long-term value, but its policy was not to comment on individual shareholders or its relationship with them.

Groupe Canal+ first acquired a 5% shareholding in MultiChoice in April 2020.

In 2018 after putting its MultiChoice Africa business up for possible sale, a sale to Vivendi of MultiChoice's pay-TV business outside of South Africa was rejected.

In July 2019 Canal+ that runs its own pay-TV service across the African continent, acquired Nigeria's ROK Studios and TV channels business for an undisclosed amount.