Paddington films-maker Canal+ seals £2bn takeover of South African rival MultiChoice
By Daily,Editor
Copyright dailymail
The broadcasting giant behind the Paddington films has sealed the £1.5billion takeover of a South African rival.
Canal+, which is French but listed on the stock market in London, has bought MultiChoice.
Chief executive Maxime Saada said the swoop was ‘an important step forward’ as it seeks to become a top five global entertainment player.
The combined group has more than 40m subscribers in nearly 70 countries.
The float of Canal+ in London last December was seen as a major boost for the stock market amid an exodus of firms.
The shares remain below the 290p listing price, however, at 236.8p – though they have bounced back since falling close to 150p in April.
