Vivendi SE's Canal+ has made a non-binding offer to acquire MultiChoice Group, claiming it will grow the South African pay-TV company globally.
Canal Plus expects the offer – R105 per share in cash – to be a 40% premium to MultiChoice's January 31 closing price of R75, the French company said on Thursday. said in an emailed statement.
Canal+ is already the largest shareholder in MultiChoice, which operates in 50 countries across Africa and was separated from Naspers and listed as a sole public company in February 2019.
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French billionaire Vincent Bollore's Vivendi formally proposed on January 30 to split its vast media and entertainment empire into four separate companies, and Canal Plus is actively preparing to go public. .
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“This allows investors to benefit from the combination of Canal+ and MultiChoice. Our ultimate goal is to obtain a listing in South Africa as well,” the French film and television studio company said.
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Canal Plus said it has submitted a letter of non-binding indicative proposal to MultiChoice's board of directors and plans to submit a letter of intent once it completes its due diligence, and so far, the company has not made any progress on its plans. There is no certainty, he added. potential offer.
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