Vivendi’s Canal+ doubles its stake in Multichoice
MultiChoice, a South African company which operates the DStv Satellite Television service Group and GOtv, announced that French pay-television giant Groupe Canal+ has continued buying up its shares, so much so that its stake has doubled to 12% in the past month.
MultiChoice had disclosed earlier in October that Canal+, owned by French media conglomerate, Vivendi, had acquired 6.5% of its equity, which later rose to 12%.
On the acquisition, Multichoice explained: “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 or on its interactions with them. The company remains committed to acting in the best interests of all shareholders and to create sustainable long-term shareholder value.
“As a result, the company’s shares have risen to a record above R140, which many industry players speculate may be an indication that Canal+ SA is planning to acquire MultiChoice.
Groupe Canal+ has been deepening its foothold in Africa after the acquisition of Nigeria’s ROK Studios; Vivendi had previously tried to acquire MultiChoice Africa, but the multi-million-dollar offer was rejected.
Headquartered in Issy-les-oulinMeaux, outside Paris, Canal+ is owned and controlled by Vivendi and produces movies and television shows. It has a significant pay-TV business and a film library of more than 5000 titles.
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