Canal+ now holds 6.5% stake in MultiChoice Group

French Pay TV operator, Canal+ Group has taken a 6.5% stake in MultiChoice Group, which has now passed the 5% threshold which will require to make its acquisition of a stake in the Johannesburg stock exchange.

Based on a statement from Canal+: “This acquisition, a long-term financial investment, demonstrates the confidence of the Canal+ group and its shareholder Vivendi in the prospects of MultiChoice and the African continent to which they are attached.”

Canal+ is looking outside of France to expand its footprint, it has long served subscribers in French-speaking Africa, where it has over 4million subscribers.