Rep office reports

MultiChoice soars on French tie-up (Economic Division in South Africa )
Kind: Rep office reports  Organization: Department of International Cooperation  Publish Date: 2020-10-26 15:37
French broadcasting group Canal+ has built up a 6.5% stake in Africa s biggest satellite TV group, MultiChoice, setting off speculation of deeper ties between the two and sending shares in MultiChoice to their highest close in nine months.
Canal+, the pay-TV subsidiary of media conglomerate Vivendi, said the acquisition of the stake, now worth R3.2bn, was a long-term financial investment and demonstrated its confidence in the prospects of MultiChoice and the African continent.
Shares in MultiChoice, which is valued at R49.5bn, jumped 9.34% to R112.05, booking their biggest one-day gain in four months. The increase also extended MultiChoice s winning’ streak to the ninth consecutive session, its longest since debuting on the JSE in February 2019.
Roman Magis, principal director for video, advertising and content at Accenture Africa, said the investment may provide an opportunity for collaboration between MultiChoice and the French broadcaster.
This is a potential collaboration “model which enables Canal+ to distribute its French channels across all other African countries with French language.”
Canal+ already distributes television content in WestAfrican countries such as Sierra Leone, Nigeria, Ghana and Cape Verde.MultiChoice declined to comment on Monday.
The deal gives Canal+ a foothold in Africa s biggest satel lite pay-TV group, which some analysts say still has some room to grow on the continent, where streaming services like Netflix are rare due to slow internet speeds and expensive data.MultiChoice, which was spun out of e-commerce giant.
Naspers, has 19.5-million customers across the continent of more than a billion people.Canal+, which has more than 20-million subscribers worldwide, owns a large number of channels including a Nollywood TV channel. MultiChoice owns a satellite television network in Nigeria and produces content there as well. The potential collaboration could see Canal+ gaining access.

Update: 2020-04-08
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