France’s Canal+ buys an even bigger stake in MultiChoice.
French media company Groupe Canal+ has acquired additional shares in MultiChoice, taking it from 12% to more than 15%, it said in a shareholder statement on Thursday (23 September).
Groupe Canal+ SA is a French film and TV studio and distributor which owns the Canal+ French TV channels.
These channels span across movies, sports, series, and news, and have produced popular films such as The Straight Story, Mulholland Dr, and Inland Empire.
Groupe Canal+ has been expanding into Africa in recent years, including the acquisition of Nigerian production company ROK Studios.
Canal+ raised its stake significantly in 2020, sparking speculation about a possible takeover, Reuters reported. MultiChoice said it was keeping an open mind about its relationship with the company.
It said in its statement on Thursday 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.
"As a publicly held company, MultiChoice regularly engages with its strategic partners and maintains an open dialogue with the investment community," it said.
"The group’s policy is not to comment on its individual shareholders nor 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.
MultiChoice is Africa’s leading entertainment company and operates four platforms – DStv, GOtv, Showmax, and DStv Now.
It has approximately 14 million subscribers across 50 countries, with a particularly dominant position in South Africa.