Business Overview | Canal+ moves (slightly) closer to DStv control as US dairy farmers fight bird flu

In a flurry of corporate news on Friday, MultiChoice announced that French giant Canal Plus had acquired a larger stake, although the company still faces hurdles in gaining control. In international news, U.S. dairy farmers are fighting bird flu with measures such as banning visitors and cutting down trees.

French media group Canal+ has increased its stake in acquisition target MultiChoice to over 40%. The owner of DStv and Showmax said on Friday. Canal+ made a formal bid for MultiChoice on Monday at R125 per share, but a circular has not yet been published. MultiChoice closed at just under R120 per share on Thursday. MultiChoice said in a statement that it has an obligation to notify MultiChoice and the Takeover Regulations (TRP) if its shareholding increases beyond a certain threshold, i.e. in 5% increments. “Some shareholders have asked whether it is possible for Canal+ to exceed 50% of its shareholding in this way. Ownership of more than 50% would amount to a merger under competition law, and the Competition Tribunal “We do not expect this to occur, as prior approval would be required,” MultiChoice said. He said. TRP said the shares were purchased between April 8 and 11 at prices ranging from R117.62 to R119.92. MultiChoice was down about 2% on Friday afternoon to R117.54. Shares have risen about 57% since early February, when Canal Plus announced its intention to acquire the company.

Luno receives financial services provider license By the Financial Services Conduct Authority (FSCA). SA's largest and oldest crypto service provider made the announcement in a statement on Thursday. The FSCA's online portal verifies the status of authorized financial service providers. Luno said in his statement that it is the first dedicated crypto trading platform to be licensed. At the end of March, SA Group's Jaltech confirmed that it had received a crypto asset service provider license from the FSCA.