Takeover target MultiChoice cites weaker economy as loss widens

MultiChoice, the subject of an aggressive takeover bid by France’s Canal+, will report wider losses for the full-year to end-March due to a weaker economy, investment in online streaming and the sharp decline of Nigeria’s currency. 

In a trading update on Thursday, the group said trading profit on an organic basis, in constant currency terms and excluding M&A, is expected to increase year on year due to price increases across the majority of the group’s markets and cost cutting measures. This, despite the weak operating environment and an additional R1.4bn in Showmax trading losses…

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