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Groupe Canal+ SA (Canal+), the media arm of Vivendi, a Paris-based firm controlled by French billionaire Vincent Bollore’s Bollore Group, has increased its stake in South Africa’s MultiChoice Group, the parent company of DStv, the leading satellite-TV service in Sub-Saharan Africa.
Canal+ ups MultiChoice stake in Africa push
According to a May 8 filing on the Johannesburg Stock Exchange (JSE), Canal+ acquired 4,731,709 MultiChoice shares at an average price of R119.73 ($6.47) between May 2 and 5, for a total of R566.53 million ($30.61 million). This strengthens Canal+’s position as MultiChoice’s largest shareholder, with a current stake of 43.54 percent.
The move follows Canal+’s recent bid increase to acquire MultiChoice for R55 billion ($2.9 billion), up from an initial offer of R46 billion ($2.5 billion). This highlights Canal+’s strategic intent to solidify its foothold in Africa’s growing media and entertainment market.
Canal+ expands in Africa
Following the acquisition, Canal+ ensured compliance with the Johannesburg Stock Exchange’s Regulation Panel (TRP) and relevant Companies Act regulations. The company has also strengthened its foothold in African media by acquiring a stake in Marodi TV, a Senegalese production company known for its popular TV series.
Canal+’s investment in Marodi TV underscores its commitment to fostering African talent and content creation. The move also leverages strategic partnerships to solidify its position in the continent’s dynamic media landscape.
Vivendi’s expanding African ambitions
Vivendi, partly owned by Bollore Group, is using its subsidiary Canal+ to steadily increase its stake in MultiChoice, signaling its expanding ambitions in Africa’s entertainment market. MultiChoice, which operates the popular Showmax streaming service, is a strong competitor to global players like Netflix.
Beyond its stake in Vivendi, Bollore Group also maintains investment in Wifirst, an internet service provider, diversifying its reach across various African industries.
French billionaire Vincent Bollore, the former chairman and controlling shareholder of Bollore Group, has seen his net worth increase by $66.3 million year-to-date, pushing his fortune to $9.52 billion according to the Bloomberg Billionaires Index. This cements his position as the 261st richest person in the world, ahead of Liechtenstein’s Prince Hans-Adam II.
