Canal+ ups MultiChoice offer
March 6, 2024
Canal+ has increased its offer for the acquisition of African pay-TV broadcaster MultiChoice, after being ordered to make an immediate bid by South Africa’s Takeover Regulations Panel (TRP)
The Vivendi-owned company has raised its proposal from the previously rejected 105 rand per ordinary share to 125 rand, as confirmed by a joint statement issued by both companies – valuing the deal at around at about 33.7 billion rand (€1.63bn).
Maxime Saada, chairman and CEO of Canal+, told Reuters that the company had engaged with the board of MultiChoice to determine a reasonable price that would lead them to resume talks.
“It was clear that at that price we would get management and board support,” Saada said, adding that the new price offered “a fair value”.