BEE investors could gain from proposed MultiChoice sale
The Canal+ deal would bring scale and exposure, but foreign ownership rules could stop it
Black shareholders invested in MultiChoice via its Phuthuma Nathi empowerment scheme could get a chance to remain invested if the sale of the pay-TV group to French entertainment giant Canal+ succeeds, giving them exposure to lucrative new markets.
The pay-TV group submitted an offer to the MultiChoice board to buy out the shares that it does not already own in a deal worth R31bn. Canal+ is MultiChoice’s largest shareholder with a 33% stake acquired over the past few years. ..
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