BusinessDay

Canal+ increase stake in MultiChoice to 20.1 percent

Canal+, French media company Group has increased its stake in South Africa’s MultiChoice to 20.1 percent. This would be its third investment since 2020 when Canal+ started snapping up shares at 6.5 percent.

It’s the first time Multichoice has disclosed a change in Canal+’s shareholding since November 2021, when it disclosed the French group had bought 15.4 percent of its ordinary shares in issue.

The company disclosed to investors on Thursday stating, “MultiChoice remains committed to acting in the best interest of all shareholders and to create sustainable long-term shareholder value. While the group regularly engages investors with its strategic partners and maintains an open dialogue with the investment community, its policy is not to comment on its individual shareholders nor on its interactions with them.”

Nigeria’s multichoice in its recent annual report stated subscription revenue increased by 5 percent in FY 2022, from N177.7 billion in FY 2021 to N183 billion, with an increase in its 90-day active subscriber base to 12.8 million.

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By the end of December 2021, Cabal+ reported a total 23.7 million subscribers with Africa having more than 5 million. Previously, Canal+ disclosed to MultiChoice that it sees the holding as an investment. For a while, the two companies collaborated by sharing content between their corresponding marketplaces.

MultiChoice first disclosed on 5 October 2020 that Canal+ had acquired 6.5 percent of its equity. in an interview in November 2020 said, “Whether it’s Canal+ or someone else, we have a responsibility as directors of the company to do what is in the best interests of shareholders,”


Frank Eleanya

Technology Desk
Business Day Newspaper
www.businessdayonline.com
Email: frank.eleanya@businessdayonline.com

Mobile: +2348171206647

Canal+ increase stake in MultiChoice to 20.1 percent

Anthony Udugba

Canal+, French media company Group has increased its stake in South Africa’s MultiChoice to 20.1 percent. This would be its third investment since 2020 when Canal+ started snapping up shares at 6.5 percent.

It’s the first time Multichoice has disclosed a change in Canal+’s shareholding since November 2021, when it disclosed the French group had bought 15.4 percent of its ordinary shares in issue.

The company disclosed to investors on Thursday stating, “MultiChoice remains committed to acting in the best interest of all shareholders and to create sustainable long-term shareholder value. While the group regularly engages investors with its strategic partners and maintains an open dialogue with the investment community, its policy is not to comment on its individual shareholders nor on its interactions with them.”

Nigeria’s multichoice in its recent annual report stated subscription revenue increased by 5 percent in FY 2022, from N177.7 billion in FY 2021 to N183 billion, with an increase in its 90-day active subscriber base to 12.8 million.

By the end of December 2021, Cabal+ reported a total 23.7 million subscribers with Africa having more than 5 million. Previously, Canal+ disclosed to MultiChoice that it sees the holding as an investment. For a while, the two companies collaborated by sharing content between their corresponding marketplaces.

MultiChoice first disclosed on 5 October 2020 that Canal+ had acquired 6.5 percent of its equity. in an interview in November 2020 said, “Whether it’s Canal+ or someone else, we have a responsibility as directors of the company to do what is in the best interests of shareholders,”

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