MultiChoice shares soar as Canal+ takes 6.5% equity stake
05 October 2020 - 23:41
French broadcasting group Canal+ has built up a 6.5% stake in Africa’s biggest satellite TV group Multichoice, setting off speculation of deeper ties between the two companies and sending shares in Multichoice their highest close in nine months
Canal+, the pay TV subsidiary of media conglomerate Vivendi, said the acquisition of the stake, now worth R3.2bn, was as a long-term financial investment, and demonstrated its confidence in the prospects of both MultiChoice and the African continent. ..
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