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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