Canal+ doubles stake in Multichoice

Multichoice says it will make new roles available for multi-skilled employees.

File: Naspers’ newly listed pay-television business Multichoice Group notified workers of its intention to retrench 1,790 workers.

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JOHANNESBURG - French pay-television giant Groupe Canal+ has shown interest in Africa's leading entertainment company, Multichoice.

In a statement, Multichoice confirmed Canal+ has doubled its stake in the company to 12 percent.

READ: French company buys stake in Multichoice

Last month, Groupe Canal+, a French film and TV studio and distributor which owns the Canal+ French TV channel, bought 6.5 percent of Multichoice's shares.

The group, which is owned by French media conglomerate Vivendi, has been expanding into Africa in recent years.

The parent company previously tried to acquire MultiChoice Africa, but its multi-million dollar offer was rejected.

Source
eNCA