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French Billionaire Uses Canal+ to Buy More Africa Pay-TV Stock

  • Unit of Bollore-owned Vivendi is raising stake in MultiChoice
  • South Africa’s foreign ownership rules may prevent buyout
Updated on

Part of French billionaire Vincent Bollore’s media empire has nearly doubled its stake in South African pay-TV company MultiChoice Group Ltd. following a collaboration between the two companies on local productions.

Vivendi SE-owned broadcaster Canal+ has gradually acquired tranches of shares and now owns 26% of the Johannesburg-based firm, compared with 15% a year ago, according to stock market filings, with the latest reported on Wednesday.