Enter your email address below and subscribe to our newsletter

Breaking: Canal+ now owns more than 45% of MultiChoice’s DSTV

By Oluchukwu Ikemefuna

Share your love

Who owns Multichoice DSTV: France’s Groupe, Canal+, has acquired more shares of South Africa’s MultiChoice Group. Canal+ recently reported that it has acquired 45.2% of MultiChoice’s equity through both on-market and off-market transactions. 

Who owns Multichoice

Who Owns MultiChoice DSTV? 

Canal+ acquired 7.4 million more shares in the latest buying round between 8 May and 10 May. The ambitious firm stated it may continue buying more shares while the offer to MultiChoice shareholders remains open.

Multichoice and Canal+ revealed an agreement that focuses on fostering mutual benefits between the two companies. The agreement was revealed on April 8th, 2024. Note that they facilitate the benefits by ensuring cooperation regarding the offer. These include fulfilling the offer conditions and publishing a combined offer circular. 

Who Owns MultiChoice: MultiChoice Changes Chairman 

While Canal+ keeps on acquiring shares, MultiChoice is going through leadership changes. Imtiaz Patel, the former Chairman of MultiChoice has recently resigned. His term was extended beyond his scheduled departure in early April. Imtiaz’s contract extension was to keep him on until the buyout with French media company Canal+ was completed. Following his resignation, Elias Masilela, appointed Deputy Chairman of the company, took over his position.

MultiChoice has established an independent board as a crucial part of the acquisition process and in strict adherence to legal requirements. Also, the board is charged with the responsibility of expressing a view on the fairness and reasonableness of the Canal+ offer. Consequently, ensuring transparency and fairness in the process.

Interact with us via our social media platforms:

Facebook: Silicon Africa.
Instagram: Siliconafricatech.
Twitter: @siliconafrite

Recommendation

Share your love
Abdullahi Kafayat
Abdullahi Kafayat

Abdullahi Kafayat is an enthusiastic writer interested in the tech world. She's a graduate of Obafemi Awolowo University and has a BSc in Chemistry. You can reach her at Kafayatabdullahi17@gmail.com.

Articles: 275

Newsletter Updates

Enter your email address below and subscribe to our newsletter

Stay informed and not overwhelmed, subscribe now!