Subscribe & Follow

Advertise your job vacancies

Jobs

Digital Sales Account Manager - Media Sales House Johannesburg
Digital Media Sales Strategist - Media Sales House Johannesburg
Digital Media Strategist Johannesburg
Music Administrative Support Intern Johannesburg North
Sports Journalist South Africa
Journalist Intern Johannesburg
Editor (B2B) Johannesburg
Journalistic Content Specialist Virtual
Admin Clerk Johannesburg
Graphic Designer Johannesburg

Vivendi's Canal+ makes firm offer to buy rest of MultiChoice

8 Apr 2024

French media group Vivendi's Canal+ on Monday made a mandatory offer to buy all the shares of South African broadcaster MultiChoice it does not already own, both companies said.

A MultiChoice logo is displayed outside the company's building in Cape Town, South Africa. Source: Reuters/Esa Alexander.

Canal+, the biggest shareholder in MultiChoice, is offering R125 per share in cash, valuing the pending purchase at about 35 billion rand ($1.9 billion) and the whole company at about R55bn, according to Reuters calculations.

The offer price represents a premium of 66% to MultiChoice's closing price of R75 on 1 February, the stock's last trading day before Canal+ delivered its indicative offer.

Canal Plus must make offer to MultiChoice shareholders, says regulator

Nqobile Dludla 28 Feb 2024

The deal would create a pan-African broadcasting powerhouse able to put African content to global audiences as well as compete on an international scale.

The French media company has broad reach in French-speaking African nations, MultiChoice has a stronger presence in English-speaking countries, including South Africa, Nigeria and Kenya.

MultiChoice's board has appointed Standard Bank of South Africa Limited as its advisor on the deal, the companies said.

Source: Reuters

Reuters, the news and media division of Thomson Reuters, is the world's largest multimedia news provider, reaching billions of people worldwide every day.

Go to: https://www.reuters.com/