Canal+ Group Ups MultiChoice Offer


Canal+ Group has increased its offer to buy out the MultiChoice Group shares it doesn’t already own.

With its ownership in the South African platform topping 35 percent, Canal+ Group is required to make a mandatory buyout offer for the company. MultiChoice had previously rejected an offer of ZAR105 per share ($5.54). Canal+ Group has now offered ZAR125 ($6.60) per share.

The previous offer, MultiChoice maintained, “significantly” undervalued the group, noting that it didn’t take into account potential synergies with Canal+.

The two companies say they are cooperating on the latest offer, and MultiChoice has given customary exclusivity undertakings to Canal+.