Canal+, backed by French billionaire, plans JSE listing after MultiChoice takeover
Canal+, led by billionaire Vincent Bolloré, plans JSE listing after taking full control of South Africa’s MultiChoice Group.
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Canal+, led by billionaire Vincent Bolloré, plans JSE listing after taking full control of South Africa’s MultiChoice Group.
French media giant Canal+ finalizes $2.02 billion MultiChoice takeover, forming Canal+ Africa with 40 million subscribers across nearly 70 countries.
The approval clears one of the last regulatory hurdles, allowing Canal+ to proceed with its mandatory offer to minority shareholders.
The regulator has given the company 30 days, until Sept. 8, to respond or risk losing its broadcasting license.
Canal+, owned by French billionaire Vincent Bollore, has won final approval to fully acquire MultiChoice in a $2.9 billion media takeover.
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The tender offer will conclude on April 25, 2025, with regulatory results expected on April 29, 2025, as outlined in a combined circular released earlier this week.
Vivendi, partly owned by Bollore Group, is using its subsidiary Canal+ to steadily increase its stake in MultiChoice.
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.
Bollore-backed Canal+ has been actively expanding in Africa.
Following the announcement of the increased offer, MultiChoice shares surged by 52 percent since the original bid on Feb. 1, with an additional 4.1-percent increase on Tuesday.
Bollore, whose wealth stems from his interests in Bollore Group, has witnessed a notable increase in his net worth, amounting to $99.1 million thus far in the year.
Bollore derives most of his wealth from his interest in Bollore Group.