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Why international companies are turning to SA stocks in the hunt for yield

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Canal+ has not wasted any time to increase its stake in Multichoice.
Photo: Gallo Images
Canal+ has not wasted any time to increase its stake in Multichoice. Photo: Gallo Images

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.

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ZAR/USD
15.22
(+0.33)
ZAR/GBP
20.50
(-0.37)
ZAR/EUR
18.52
(-0.04)
ZAR/AUD
11.32
(+0.10)
ZAR/JPY
0.15
(-0.17)
Gold
1839.89
(+0.58)
Silver
23.97
(-0.11)
Platinum
1024.00
(+1.84)
Brent Crude
47.96
(+1.75)
Palladium
2398.99
(+0.28)
All Share
58936.40
(+1.12)
Top 40
54168.85
(+1.28)
Financial 15
11361.41
(+0.48)
Industrial 25
79690.10
(+0.79)
Resource 10
56663.19
(+2.15)
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