Connect with us

Broadcasting

MultiChoice to Delist from JSE

Published

on

Kindly share this post

Video entertainment company MultiChoice is set to delist from the JSE after French media giant Canal+ took full control of the firm. MultiChoice listed on the JSE in February 2019.

Canal+ told shareholders that its offer of R125 per MultiChoice share closed at 12:00 on Friday, 10 October, and was accepted by MultiChoice shareholders holding 217 659 343 MultiChoice shares (which is approximately 92.54% of the offer shares).

Together with the MultiChoice shares that were already held by Canal+ prior to the Canal+ offer, these acceptances will result in Canal+ holding approximately 94.39% of MultiChoice’s total issued ordinary shares in aggregate.

“As the Canal+ offer has been accepted by MultiChoice shareholders holding more than 90% of the offer shares, Canal+ is pleased to announce that it intends to invoke the provisions of section 124(1) of the Companies Act to compulsorily acquire all of the MultiChoice shares not already held by it, at the offer consideration described in the combined circular (hereinafter referred to as the ‘squeeze-out’).

“Upon the exercise of the squeeze-out, MultiChoice Group (MCG) will become a wholly-owned subsidiary of Canal+ and application will be made for the termination of the listing of MultiChoice shares on the JSE in terms of paragraph 1.17(a) of the JSE listings requirements, subject to the approval of the South African Reserve Bank,” the statement reads.

Canal+ says it will publish an announcement in relation to the foregoing in due course. Once such notice is given, the MultiChoice shares will be suspended from trading on the JSE and the notice will contain further details.

In accordance with the commitment made by Canal+ as part of the approval of the Canal+ offer by the South African competition authorities, Canal+, listed in London, will, subject to obtaining all regulatory approvals, undertake a secondary inward listing on the JSE by way of introduction (using the fast-track listing procedure).

It notes that a secondary inward listing will preserve South African investor access and market liquidity, allowing local investors to hold shares in a leading global media and entertainment company on the JSE.

“It will broaden the investor base of Canal+, reinforce the company’s long-term commitment to South Africa and Africa’s creative economy, and support continued institutional exposure to the media sector,” says the firm.

“The acquisition of MCG by Canal+ marks the largest transaction ever undertaken by Canal+, cementing the combined group’s position as a global media and entertainment company.”

The combined group will serve more than 40 million subscribers across close to 70 countries in Africa, Europe and Asia, supported by a workforce of approximately 17 000 employees.

“Canal+ is proud to stand by the commitments it made during the transaction process and remains steadfast in its belief that having a secondary listing in South Africa is important given the role the combined group now plays in South Africa and across the African continent.”

Maxime Saada, CEO of Canal+, says: “We are pleased with the overwhelming success of the offer. Following this outcome, we will be moving ahead with a squeeze-out of MultiChoice shareholders and a subsequent secondary inward listing of Canal+ in Johannesburg, in addition to our primary listing in London.

“We were clear the day we launched the acquisition of MultiChoice that this was a commitment we wanted to make. Given the important role Canal+ will now play in South Africa and across the African continent, I believe it to be critically important that domestic investors have the ability to have exposure to a leading media and entertainment company on the JSE, while investors continue to get access to Canal+ through the London Stock Exchange.”

 


Kindly share this post

Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

Broadcasting

MTN Launches One TV with Free-to-View, Pay-as-You-Go

Published

on

Kindly share this post

MTN Group has begun rolling out MTN One TV, a new entertainment proposition designed to make digital video content more accessible, relevant, and flexible for customers across African markets.

MTN Launches One TV with Free-to-View, Pay-as-You-Go

Introduced in line with MTN’s Ambition 2030 strategy, MTN One TV brings together local storytelling, live channels, international programming, and market-specific viewing options tailored to how customers across the continent access and pay for digital entertainment.

The proposition is designed to give customers greater choice in how they watch content, with viewing models that may vary by market and can include free-to-view content, advertising-funded experiences, pay-as-you-watch access, and subscription offerings.

Depending on local availability, customers may also be able to pay through airtime, Mobile Money, and other locally supported payment methods, helping to reduce common barriers to streaming access.

Beyond enhancing customer experiences, MTN One TV creates new opportunities for African creators, broadcasters, advertisers, and ecosystem partners by helping connect content to wider audiences through MTN’s scale across connectivity, payments, and digital services.

By bringing together a broad mix of content experiences under a single proposition, MTN aims to support greater content discovery, broader audience reach, and sustainable growth across Africa’s digital entertainment ecosystem.

Anchored in MTN’s strategic platforms of Connectivity, Fintech, and Digital Infrastructure, MTN One TV forms part of the Group’s broader ambition to build digital experiences that create value for customers while enabling participation and growth across Africa’s digital economy.

“Entertainment is increasingly becoming an important gateway to digital participation,” said Selorm Adadevoh, MTN group chief commercial, strategy and transformation officer.

“Through MTN One TV, we are leveraging the scale of our connectivity, fintech, and digital capabilities to make relevant content more accessible while creating new opportunities for Africa’s creative and digital economies. This is aligned with our ambition to deliver digital solutions for Africa’s progress.”

MTN One TV is being introduced progressively across MTN markets through a phased rollout approach that reflects local market needs, existing services, and partnership opportunities.

Over time, MTN will bring together a combination of video capabilities, content partnerships, and customer experiences under the MTN One TV brand to create a more consistent and scalable entertainment proposition across its footprint.

Through MTN One TV, MTN continues to extend its role beyond connectivity by combining entertainment, payments, and digital services to deliver experiences tailored to the needs of African consumers.

The rollout supports MTN’s Ambition 2030 vision of leading digital solutions for Africa’s progress while expanding access to digital entertainment across the continent.

 


Kindly share this post
Continue Reading

Broadcasting

IATA Drops Bombshell: Nigeria Among World’s Most Expensive Countries to Run an Airline

Published

on

Kindly share this post

International Air Transport Association (IATA) has identified Nigeria as one of the most expensive countries in the world for airline operations, citing high taxes, charges and operational costs that continue to weigh heavily on local carriers.

IATA Drops Bombshell: Nigeria Among World's Most Expensive Countries to Run an Airline

IATA’s Regional Vice President for Africa and the Middle East, Kamil Al-Awadhi, disclosed this during the association’s Annual General Meeting held in Rio de Janeiro.

Al-Awadhi said that although Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo, had been pursuing reforms aimed at improving the aviation sector, airlines operating in the country still faced enormous cost pressures.

According to him, the high-cost operating environment has continued to affect the profitability and competitiveness of Nigerian airlines, making it difficult for the industry to realise its full potential.

He noted that excessive taxes, regulatory charges and other operating expenses remained major obstacles to airline growth across the region, with Nigeria ranking among the most challenging markets from a cost perspective.

Al-Awadhi urged member states of the Economic Community of West African States to adopt a proposed 25 per cent reduction in aviation taxes and charges to ease the burden on airlines and passengers.

According to him, lowering taxes and charges would reduce airfares, stimulate passenger traffic and strengthen the competitiveness of carriers operating within West Africa.

He stressed that a more supportive policy environment was critical to unlocking the economic benefits of aviation, including increased trade, tourism and regional integration.

Industry stakeholders have consistently advocated lower taxes and regulatory fees, arguing that the current cost structure makes air travel less affordable and limits the growth of the sector.

IATA’s latest remarks add to calls for governments in West Africa to implement policies that will promote a more sustainable and competitive aviation industry across the region.


Kindly share this post
Continue Reading

Broadcasting

NASENI Trains 50 Women in Kano on Renewable Energy Technologies Under She-Powers Initiative

Published

on

Kindly share this post

The National Agency for Science and Engineering Infrastructure (NASENI), under the leadership of its Executive Vice Chairman/CEO, Khalil Suleiman Halilu, has trained 50 women in Kano State on inverter and battery technologies through its She-Powers Energy Initiative.

NASENI Trains 50 Women in Kano on Renewable Energy Technologies Under She-Powers Initiative

The three-day programme, held at the Technology Incubation Centre, Farm Centre, Kano which ended yesterday, was designed to equip participants with practical renewable energy skills, promote women-led enterprises, and enhance sustainable livelihoods.

 The initiative forms part of NASENI’s broader commitment to empowering women, creating economic opportunities, and expanding participation in Nigeria’s growing clean energy sector. It also aligns with the Renewed Hope Agenda of President Bola Ahmed Tinubu by supporting job creation, entrepreneurship, and inclusive economic development.

 Through targeted interventions such as the She-Powers Energy Initiative, NASENI continues to demonstrate its commitment to leveraging technology and innovation to improve lives and drive sustainable development across the country.

Photos: Participants at the She-Powers Energy Initiative training organised by the National Agency for Science and Engineering Infrastructure (NASENI) held at the the Technology Incubation Centre, Farm Centre, Kano yesterday.


Kindly share this post
Continue Reading

Trending