Canal + takes a stake in the MultiChoice group

French media giant Canal + Group has acquired a significant stake in South Africa’s largest broadcasting company, parent company DStv, MultiChoice Group.MultiChoice, which is listed on the JSE, disclosed Canal + ‘s investment in a press release on the stock market information service Monday morning. Canal + bought 6.5% of the company’s total common shares outstanding, he said. Shares of MultiChoice surged higher on the news Monday morning and were listed up 8.2% to 10.84 R1 each at 10:39 a.m.

“As a public company, MultiChoice engages regularly 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, ”he added.

Canal + is owned and controlled by Vivendi and produces films and television shows. It has an important pay television activity and a film library of more than 5,000 titles. Its headquarters are in Issy-les-Moulineaux, outside Paris.

It is not immediately clear why Canal + is taking a stake in MultiChoice. TechCentral has contacted Vivendi for comment.

Responding by email to a question from TechCentral, MultiChoice said: “The Canal + Group became a shareholder of MultiChoice Group in April of this year. We have received a notification that their stake has now increased to 6.5%, exceeding the 5% threshold that requires us to notify our shareholders through the JSE, as well as the Takeover Regulatory Panel. ”

He added, “We remain committed to acting in the best interests of all of our shareholders and creating long-term, sustainable value for them.” – © 2020 ActualitésCentral Media