MultiChoice Group disclosed on Thursday that French pay-television giant Groupe Canal+ has continued buying up its shares, so much so that its stake has doubled to 12% in the past month.
South Africa has proposed the radical relaxation of rules over foreign ownership in local broadcasters as well as the scrapping of restrictions that prevent cross-ownership of broadcasting services.
French media giant Groupe Canal+ has acquired a not-insignificant stake in South Africa’s largest broadcasting company, DStv parent MultiChoice Group, prompting a surge in the JSE-listed firm’s shares.