Canal+ chair and CEO Maxime Saada confirmed that the company has no plans to make any changes to DStv or Showmax following the acquisition of MultiChoice.
Saada outlined Canal+’s strategic vision to leverage Showmax for a successful entry into the streaming market. He acknowledged the strong competition from companies like Apple and Netflix but also stressed that maintaining the integrity of both brands is a top priority. While he highlighted the potential for competition between Showmax and DStv in certain scenarios, he reassured that Canal+ would not alter the brands unless necessary.
Canal+ has been transparent in its share acquisitions of MultiChoice, steadily increasing its ownership since October 2020. By May 2024, it had reached 45.2% ownership. A joint circular issued by Canal+ and MultiChoice outlined the proposed buyout, confirming that Canal+ had not acquired any additional shares since its last notification in May, with an average buy price of just over R100 per share. The company intends to continue acquiring shares while the buyout offer remains open, demonstrating its commitment to the process.
Furthermore, Canal+ has been informing the market of its MultiChoice share purchases through the Takeover Regulation Panel on a weekly basis. Despite speculation from some shareholders about exceeding the 50% ownership mark, MultiChoice clarified in a media statement that they do not anticipate this happening as it would require prior approval from the Competition Tribunal due to the implications of exceeding the 50% ownership threshold.
