French entertainment giant Canal+ has made a buyout offer for MultiChoice in a R46bn deal that will test SA’s and the de facto African pay-TV monopoly’s own rules on foreign ownership and control of the media.

Canal+, which was recently spun out of one of the world’s biggest media conglomerates, Vivendi, pitched the transaction as an opportunity to create an African media business powerhouse with operations in key markets on the continent, from SA and Nigeria to Senegal and Cameroon...

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