Friday, February 10, 2023

Canal+ continues to gobble up more MultiChoice shares and with a 30.2% stake now owns almost a third of the DStv company.

by Thinus Ferreira

France's Canal+ has gobbled up further shares in MultiChoice and announced on Friday that it now owns close to a third - 30.27% of the pay-TV company that runs DStv.

Canal+ continues to constantly and aggressively buy MultiChoice shares since it started investing in the company in 2020.

Groupe Canal+ first acquired a 5% shareholding in MultiChoice in April 2020. Canal+ then increased it to 12%, then increasing it to 15%, upping it to 20.12%, then 18.44%, and then 26.6% by September 2022

Just seven months ago, Canal+ still sat at 20% of MultiChoice shares.

Now Canal+ owns close to a third of MultiChoice shares. Interestingly, South African law restricts foreign ownership to 20%.

MultiChoice tells TVwithThinus in response to a media query about Canal+'s increased shareholding that "The Group regularly engages investors with its strategic partners and maintains an open dialogue with the investment community. Our policy is not to comment on individual shareholders nor on our interactions with them".

Canal+ is owned by the French billionaire Vincent Bollore's Vivendi SE.