PIC signals confidence in MultiChoice by raising ownership to 15%

In a move that signals confidence in MultiChoice’s investment case, the government’s investment arm, the Public Investment Corporation (PIC), has increased its stake in MultiChoice to 15.1%, the group said on Friday. 

Just days before, the company’s largest shareholder, Canal+, was ordered to make a mandatory offer to other shareholders for the shares it does not already own in MultiChoice. The French broadcaster recently grew its stake in the pay-TV group to 35%, triggering a mandatory offer according to rules set by the takeover regulation panel (TRP)...

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