MultiChoice faces fresh takeover bid
French media group, Vivendi, has launched a fresh bid to acquire Africa’s largest pay-television MultiChoice. Vivendi holds 35.01% shares in MultiChoice, making it the biggest shareholder in the company.
As per Reuters, Vivendi’s Canal+ has raised its offer from the initial io5 rand per share it offered the company last month to the latest 125 rand per share.
The value of the shares is worth about 33.7 billion rand ($1.77 billion).
Both companies said they intend to mutually co-operate and “accordingly MultiChoice will give customary exclusivity undertakings to Canal+.”
Once the mandatory offer is made, the Independent Board of MultiChoice will be constituted and will, after receipt of the independent expert’s opinion, provide its opinion and recommendation on the offer, the companies added.
