Advanced Television

Canal+ makes buyout offer for MultiChoice

April 8, 2024

Canal+ has made an all-cash mandatory offer to acquire all the shares of South African broadcaster MultiChoice that it does not already own for SAR35 billion (€1.73bn), both companies have confirmed.

That offer at SAR125 per share follows an indicative offer of 105 rand made by Vivendi-owned Canal+ on February 1st, which MultiChoice rejected on the grounds that it significantly undervalued the company.

The requirement to make a mandatory offer was triggered earlier in the year by Canal+ subsequently raising its holding in the firm beyond the 35 per cent threshold.
If the latest offer is accepted, it would create a pan-African broadcaster with over 31 million subscribers across 50+ countries.

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