French media company Canal+ continues to increase its stake in MultiChoice by buying shares on the open market, raising speculation that a deal may be coming.
MultiChoice CEO Calvo Mawela said they continue to have monthly interactions with Vivendi and that the French media company likes MultiChoice, its management, and its prospects. Vivendi tried to acquire MultiChoice Africa in 2017, but Naspers, the parent company of MultiChoice at the time, reportedly rejected the $1 billion offer.
He explained that there is little geographical overlap in the operations of MultiChoice and Canal+ in Africa. Cheeseman said other benefits of a tie-up include lower content costs, better satellite leases, and the expedited use of MultiChoice Africa’s tax losses. MultiChoice’s expertise in online streaming — DStv Now and Showmax — can also assist Canal+ in its online endeavours.There is uncertainty as to what a deal between MultiChoice and Canal+ will look like, should it happen.
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