Canal+ Acquires Additional Shareholding In Multichoice Group!
The French media company Canal+ (or Groupe Canal+ SA) has acquired more stakeholding in Multichoice Group by buying another 1.5 per cent shares in the company bringing its total stake in the African media conglomerate to 6.5 per cent.
Multichoice, a Johannesburg Stock Exchange (JSE) listed organisation, disclosed the news on Monday in an investment statement stating: "the company remains committed to acting in the best interest of all shareholders to create sustainable long-term shareholder value."
Canal+, owned by Vivendi, is a France-based TV and film production and distribution company with its own TV channels spanning across the movies, sports, series, news genres.
Canal+ has been looking to create more in-road in the African TV and broadcast market. It will be recalled that not long ago, the company bought into ROK studios - a Nigerian production company.
Analysts say that the new investment move by Groupe Canal+ SA now makes it the second-biggest shareholder in Multichoice, only second to the Public Investment Corporation (PIC).