Canal+ seals about £2 billion takeover of MultiChoice to expand global footprint
French broadcaster Canal+ agrees to acquire South Africa's MultiChoice in a deal worth about £2 billion, aiming to become a top-five global entertainment player with more than 40 million subscribers across roughly 70 countries.
Canal+, the French broadcaster behind the Paddington films, has sealed a deal to acquire MultiChoice Group, the South African pay-TV and streaming operator, in a transaction valued at about £2 billion. The combined group would have more than 40 million subscribers in nearly 70 countries.
Chief executive Maxime Saada described the deal as "an important step forward" as Canal+ pursues its ambition to become a top-five global entertainment player. The deal would add MultiChoice's footprint across Africa to Canal+'s portfolio.
Canal+'s London listing last December was seen as a boost for the stock market amid an exodus of firms. The shares traded around 236.8p after listing, well below the 290p price, having dipped to about 150p in April before rallying into the summer.
Investors and analysts will be watching for details on regulatory approvals and an integration plan, as the transaction would reshape Canal+'s global footprint in pay-TV and streaming.