Business has been tough for some South African corporates as they pull back from overseas expansions, but it's been shopping season for their international counterparts who have been snapping up stakes in local companies. South Africa's shares are trading at a discount and big internationals have noticed. The most recent and notable acquisition was French media company Group Canal+'s acquisition of a 6.50% stake in pay TV operator MultiChoice, leading the local company to file a notice with South Africa's Takeover Regulation Panel. The acquisition follows on those by other internationals like Saudi Arabia company Zahid Group, which now has a 15% stake in Barloworld.

Source: News 24 October 23, 2020 08:26 UTC