Former Telkom CEO Sipho Maseko and BEE deal veteran Sonja de Bruyn have been confirmed as two of the parties involved in an over R30-billion transaction between MultiChoice and French media conglomerate Groupe Canal+.
on local ownership and foreign control of South African broadcasters should the Canal+ deal be approved.
Canal+ continued buying MultiChoice shares while its offer was being considered, with the Takeover Regulation Panel last reporting in May 2024 that Canal+’s shareholding Although Canal+ was mandated by law to put in an offer to acquire MultiChoice, several regulatory hurdles must be overcome. Additionally, the transaction will have to meet Broad-based Black Economic Empowerment rules set out by industry regulator Icasa, which says licensees must be 30% owned by historically disadvantaged individuals.
He has also served as chairman of the board of Sapref and as non-executive director of Afrox and BMW South Africa.Sonja de Bruyn is the principal partner of Identity Partners and has 22 years of transacting and corporate finance advisory experience in mergers and acquisitions in South Africa and abroad, including BEE transactions.
When NTT Data initially confirmed its investigation into the deal in 2022, it said that De Bruyn and Identity Fund Managers were not implicated in the review.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Canal+ and MultiChoice Propose Restructure After Anticipated AcquisitionFrench media giant Canal+ and South African-based video entertainment firm MultiChoice have proposed a restructuring plan following Canal+'s planned acquisition of MultiChoice. The companies aim to ensure compliance with foreign ownership limitations and maintain MultiChoice's broad-based black economic empowerment (BBBEE) credentials. Key aspects of the restructuring include carving out MultiChoice's broadcasting license holder, LicenseCo, into an independent entity majority owned by historically disadvantaged persons.
Read more »
DStv Crackdown: Multichoice Tracks Illegal StreamersMultichoice warns South Africans illegally streaming DStv content that they face legal action and potential imprisonment. The company can track users through both pirate networks and individual viewing.
Read more »
Canal+'s Content Strategy Hints at Potential MultiChoice ChangesGroupe Canal+, currently in the process of acquiring MultiChoice Group, offers similar content bundles in France as DStv, but with a key difference: the unbundling of sports. This raises questions about whether MultiChoice might follow suit and offer a standalone SuperSport bouquet in the future.
Read more »
Bad news for DStv piratesMultiChoice is accelerating its fight against pirate streaming, which already intensified significantly in 2024.
Read more »
MultiChoice Rides Out the Storm, Eyes Future GrowthDespite facing headwinds from forex fluctuations and macroeconomic challenges, MultiChoice CEO Calvo Mawela remains optimistic about the company's future. He highlights their successful cost-cutting measures and significant investments in Showmax to capitalize on the growing streaming market in Africa.
Read more »
MultiChoice’s plan to win the streaming warMultiChoice CEO Calvo Mawela said streaming has changed the broadcasting landscape, with linear TV stagnating and streaming showing strong growth.
Read more »