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Image sourced from The Vanguard Nigeria MultiChoice has revealed that Groupe Canal+ SA – a French media company – has acquired 6.5% of Group’s ordinary shares. The African entertainment company emphasised that Canal+ would have to accept reduced voting rights of shares as it’s a foreign entity. “Shareholders should take note that, pursuant to a provision of the MultiChoice memorandum of incorporation, MultiChoice is permitted to reduce the voting rights of shares in MultiChoice (including MultiChoice shares deposited in terms of the American Depositary Share (“ADS”) facility) so that the aggregate voting power of MultiChoice shares that are presumptively owned or held by foreigners to South Africa (as envisaged in the MultiChoice memorandum of incorporation) will not exceed 20% of the tota...