Canal+ Group, a French TV channel, has offered to buy all the shares in South Africa’s MultiChoice for $1.69 billion.

According to Reuters, Canal+, in a statement on Thursday, said it has already submitted a proposal to this effect.

Canal+, a top shareholder in MultiChoice with a 31.67 percent stake, according to data on London Stock Exchange Group (LSEG), said it would likely pay 105 rand in cash per share — a 40 percent premium to MultiChoice’s closing share price on Wednesday.

The French firm said its offer, worth 31.7 billion rand ($1.69 billion), was non-binding and indicative.

The company is expected to deliver a letter of firm intention to MultiChoice’s board once due diligence has been completed.

“MultiChoice to continue to thrive in Africa will require a strategy that enhances its scale as well as strengthened local and global expertise,” Maxime Saada, chairman and chief executive officer (CEO) of Canal Plus, said in a statement.

“Our potential offer, if successful, would be an important next step for MultiChoice to realise its full potential.”

Confirming the development, MultiChoice, which operates in 50 countries in sub-Saharan Africa, said it had received a letter from the French media company and would update shareholders on any developments.

Canal+ is a subsidiary of Vivendi SE, a French mass media holding company headquartered in Paris.

immortalcrown:
Multichoice may end like Nokia. The billing in Nigeria is very high and very unfair. Pay-as-you-view model is the only way out for multichoice, and it is fair subscribers.

Someone who stays at home only at night shouldn't pay monthly subscription. How many hours in the month does the person have to watch TV? This is the scam MTN used on Nigerians until Glo came. MTN rejected billing per second. But in less than a month after Glo came with billing per second, MTN quickly started billing per second.

On-demand video streaming is here to stay.

crossfm:
Hehehe.

Who no like better thing .

Their main target is Nigeria, because they know anything goes over here.

Once they buy,they will package some tokens to our national assembly members,then they will settle down to continue milking us .

After all, business is about making money.

Mumusaphire:
It will be better

richeeyo:
The French never makes things cheaper

dre11:


https://www.thecable.ng/french-firm-offers-to-buy-multichoice-for-1-69bn/amp

ShugaSneh:
Good move, as long as it shouldn't be sold to head slammers or ewedu and amala munchers, that's my concern... thanks.

Drshobz:


You are old enough to stop this rubbish tribal sentiment

immortalcrown:
It is not by selling Multichoice or changing the name like Nigerian political parties.

Multichoice may end like Nokia. The billing in Nigeria is very high and very unfair. Pay-as-you-view model is the only way out for multichoice, and it is the fair model for subscribers.

Someone who goes to work during the day and stays at home only at night shouldn't pay monthly subscription. How many hours in the month does the person have to watch TV? This is the scam MTN used on Nigerians until Glo came. MTN rejected billing per second. But in less than a month after Glo came with billing per second, MTN quickly started billing per second.

On-demand video streaming is here to stay.