The Takeover Regulation Panel is investigating after MultiChoice ended potential buyout talks with its largest shareholder.
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The French broadcaster has claimed it can work around local ownership rules. Experts don’t necessarily agree.
Canal+, the company with French roots and global reach, has a similar history to South Africa’s MultiChoice Group.
MultiChoice Group said it is open to US media giant Comcast acquiring a larger stake in its video streaming platform, Showmax.
Broadcast ownership rules that limit foreign ownership of commercial South African broadcasters to 20% may be amended.
It’s not a misprint. Telecom Italia, Italy’s beleaguered former telephone monopoly, once pitched a plan to buy Apple.
Canal+ has increased its stake in MultiChoice to 31.7%, taking it closer to a potential mandatory offer to other shareholders.
Canal+ has agreed to buy a significant minority stake in Hong Kong-listed PCCW’s Viu unit.
France’s Canal+, which has steadily been buying shares in MultiChoice Group since 2020, has now significantly increased its stake.
France’s Groupe Canal+ has again increased its stake in MultiChoice Group, taking its position in the South African broadcaster to 20.1%.