French media giant Vivendi’s Canal+ has made an offer to acquire South African pay TV company MultiChoice Group, according to a statement released on Thursday.
| Offer Details | Proposed Cash Consideration |
|---|---|
| Price per MultiChoice Ordinary Share | 105 rand ($5.61) |
| Premium to Closing Share Price on Wednesday | 40% |
Canal+, a major shareholder in Vivendi with a 31.67 percent stake, aims not only to pay a cash consideration but also to secure a listing in South Africa. The offer, which represents a 40 percent premium to MultiChoice’s closing share price on Wednesday, is part of Canal+’s strategy to enhance MultiChoice’s scale and strengthen its local and global expertise.
Maxime Saada, chairman and CEO of Canal+, emphasized that the potential offer, if successful, would be a significant step for MultiChoice to realize its full potential in Africa. Saada believes that MultiChoice, with the resources from this acquisition, can invest in scale, local African talent, stories, and technology to compete with global streaming media giants.
| Focus Areas for MultiChoice Growth |
|---|
| Scale Enhancement |
| Local African Talent and Stories |
| Technological Advancements |
MultiChoice, Africa’s largest pay TV company, has been investing billions over the years to combat competition from international streaming giants like Netflix, Amazon, and Disney. The company, which broadcasts in 50 countries in Sub-Saharan Africa, faces a changing landscape in the media industry.
