Consequently,
Canal+ obtains south african green:
A couple under the multi -choice logo at the company’s headquarters in Randburg
Canal+ received approval from the South African competition gendarme for its redemption from the local Multichoice radio giant, for 35 billion rands (1.85 billion euros), subject to certain conditions, said the two groups on Wednesday. Furthermore,
This operation is the largest acquisition of the history of Canal+. Nevertheless, marks a turning point in the African media landscape, capable of reshaping the diffusion system on the continent. Therefore, It is part of a consolidation strategy aimed at countering global streaming giants like Netflix.
“The merged group will benefit from increased size. canal+ obtains south african green greater exposure to high growth markets and the ability to generate significant synergies,” said the chairman of the executive board Maxime Saada in a press release.
This operation is all the more crucial for Canal+ that it must allow it to energize its stock market course. which has dropped since its Introduction to the London Stock Exchange in December, following the split of its former Mother House Vivendi.
In London, around 08:40 GMT, the action took 1.95%.
In April 2024. Canal+, then owned by Vivendi, the holding company and already first shareholder in Multichoice, had made a firm offer of 125 rands in cash for each action of the South African broadcaster.
The conditions of the agreement include a set of commitments offered by the parties in particular to support the participation of companies controlled by historically disadvantaged persons. as well as canal+ obtains south african green by micro, small and medium-sized businesses in the South African audiovisual sector.
“This system will guarantee the financing of South African content of general entertainment. sport, thus offering local creators a solid basis for their future success”, according to a press release.
(Written by Nqobile Dludla in Johannesburg and Raechel Thankam Job in Bangalore; French version Noémie Naudin, edited by Augustin Turpin)
Canal+ obtains south african green
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