Groupe Canal+ SA (Canal+), the media branch of Vivendi, a Paris-based firm controlled by French billionaire Vincent Bolloré’s Bollore Group, is preparing to acquire the majority stake in Mauritius’ digital Pay-TV operator MC Vision.
The French media company will increase its shareholding to 75 percent from 37 percent, subject to regulatory approval. The deal’s financial terms have not been released. This deal furthers Canal+’s ambition of expanding its influence in Africa’s media industry.
According to the terms of the agreement, Currimjee Jeewanjee & Co., a family business that co-founded MC Vision with Canal+ over 20 years ago, will lower its ownership from 53 percent to 25%. Mauritius Broadcasting Corporation will also sell its 10% interest. This restructure is intended to improve MC Vision’s content offerings by leveraging Canal+’s resources.
MC Vision, founded in 1999, has shifted from satellite television to premium content delivery. It faced a $27 million revenue loss for the fiscal year ending December 2022, owing to low consumer trust and expensive content prices. Canal+’s enhanced investment is expected to address these concerns while strengthening MC Vision’s market position.
Canal+’s increased interest in MC Vision is a strategic move in Africa’s media landscape. The organization provides approximately 4,000 hours of African material across 30 channels and more than ten languages. This investment not only strengthens Canal+’s distribution, but also demonstrates the company’s dedication to local content and talent.
Canal+, owned by Vincent Bolloré’s Bolloré Group, intends to expand its reach across the continent. Earlier this year, Canal+ proposed a $2.9 billion all-cash offer for MultiChoice Group, DStv’s South African parent firm. The transaction, announced in April, is scheduled to close on April 25, 2025, with regulatory approval expected by April 29, 2025.
Vincent Bolloré, previous chairman of the Bolloré Group and a significant actor in Canal+’s expansion, remains critical to the company’s success. With a net worth of $9.35 billion, Bolloré is rated 261st on the Bloomberg Billionaires Index, demonstrating his global media power.