French media giant Groupe Canal+ has continued to buy shares in MultiChoice.
French media conglomerate Groupe Canal+ has acquired another 3,653,492 shares in MultiChoice, bringing its total ownership of the company to 40.83%.“Canal+ confirms that these acquisitions have already been disclosed to the Takeover Regulation Panel as required under the Companies Act,” the company said in a notice to MultiChoice shareholders.
“We do not envisage this happening as exceeding 50% ownership would amount to a merger under the Competition Act, which would require prior approval from the Competition Tribunal.” When its shareholding exceeded 20%, it raised concerns that it could be violating South Africa’s Electronic Communications Act .Exercise control over a commercial broadcasting licensee; or
Groupe Canal+ Headline Multichoice Takeover Regulation Panel (TRP) Broadcasting Business
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