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MultiChoice has announced that the French media company Groupe Canal + has acquired more shares in the company, meaning that it now owns 12% of the total common shares in issue.
This follows the news earlier this month that Canal + SA has acquired 6.5% of the total common shares of the MultiChoice Group.
Groupe Canal + SA is a French film and television studio and distributor that owns the French television channels Canal +.
These channels span movies, sports, series, and news, and have produced popular movies such as The Straight Story, Mulholland Dr, and Inland Empire.
Groupe Canal + has expanded into Africa in recent years, including the acquisition of Nigerian production company ROK Studios.
Vivendi, the entity that owns and controls Groupe Canal +, previously tried to acquire MultiChoice Africa, but the multi-million dollar offer was rejected.
The company is now sourcing shares from MultiChoice, which many industry players speculate may be an indication that Canal + SA plans to acquire MultiChoice.
MultiChoice is Africa’s leading entertainment company and operates four platforms: DStv, GOtv, Showmax and DStv Now.
It has approximately 14 million subscribers in 50 countries, with a particularly dominant position in South Africa.
Therefore, MultiChoice perfectly caters to Canal + SA’s African ambitions and explains why it is investing in the company.
MyBroadband has learned that there was a recent internal meeting between Canal + SA and MultiChoice.
MultiChoice said that as a publicly traded company, it engages regularly with its strategic partners and maintains an open dialogue with the investment community.
“It is the group’s policy not to comment on its individual shareholders or their interactions with them,” MultiChoice said.
“The company remains committed to acting in the best interest of all shareholders and creating long-term sustainable shareholder value.”
MultiChoice added that it has filed the required notice with the Procurement Regulation Panel.
The Procurement Regulation Panel, which reports to the Minister of Commerce and Industry, oversees the country’s procurement regulations.
Its mandate is to regulate mergers and acquisitions and protect minority shareholders by ensuring that these shareholders have access to important information during transactions.
MultiChoice share price growth
MultiChoice’s share price has shown strong growth over the last month, going from R94.21 on September 29 to R134.98 yesterday.
The graph below shows the growth of MultiChoice’s share price over the last 30 days.
Read now: French media company buys stake in MultiChoice
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