Canal+ Group has announced its holdings in South Africa’s MultiChoice Group have passed the 5% threshold.
The French pay-TV operator now holds 6.5% of the capital of MultiChoice Group Ltd.
Johannesburg Stock Exchange-listed Multichouce holds approximately 19.5 million subscribers in 50 countries.
In a statement Canal said the acquisition, a long-term financial investment, demonstrates the confidence of Canal + Group and its shareholder Vivendi, in the prospects of MultiChoice and of the African continent, to which they are very attached.
Canal is increasingly looking outside of France to expand its footprint; having acquired the European M7 Group in May 2019. It has long served subscribers in French-speaking Africa, where it has more than 4 million sub
According to Digital TV Research, Africa will have 47.26 million pay-TV subscribers by 2025, up from 30.70 million at end-2019. Nigeria will contribute 10 million subscribers by 2025 – having overtaken South Africa during the course of this year.
