CANAL+ - The African Mirror

Apr

2024

Vivendi’s Canal+ makes mandatory buyout offer for South Africa’s MultiChoice

FRENCH media group Vivendi's Canal+ made an all-cash mandatory offer to buy all the shares of South African broadcaster MultiChoice it does not already own for 35 billion rands ($1.9 billion), both companies said. That offer at 125 rands per share follows an indicative offer of 105 rands made by Canal+ on Feb. 1, which MultiChoice rejected as significantly undervaluing the company. The need to make a mandatory offer was triggered by Canal+, MultiChoice's biggest shareholder, subsequently raising its holding in the firm above the 35% threshold. Its new offer values MultiChoice, in which it now owns a 36.6% stake, at about 55 billion rand, according…

Mar

2024

By NQOBILE DLUDLA

Canal+ raises buyout offer for South Africa’s MultiChoice

BUSINESS

FRENCH media group Vivendi's Canal+ has raised its offer to buy all the shares of South Africa's MultiChoice that it does not already own, the companies said. Canal+, the biggest shareholder in MultiChoice, will offer 125 rand per share, valuing the pending shares at about 33.7 billion rand ($1.77 billion) according to Reuters calculations, after its previous offer of 105 rand was rejected last month. Maxime Saada, chairman and CEO of Canal+, told Reuters on Tuesday that the French company had engaged with the board of Africa's biggest pay-TV company to determine a reasonable price that would lead them to resume talks. "It was clear that…

Mar

2024

By The African Mirror

Canal+ to make firm offer to buy remainder of S.Africa’s MultiChoice by April 8

BUSINESS

Vivendi's French media company Canal+ will publish a firm intention to buy shares of South African pay-TV company MultiChoice tab that it does not already own by no later than April 8, it said on Monday. This follows a ruling on Wednesday by South Africa's Takeover Regulations Panel that required Canal+ to immediately make a firm intention announcement because its 35.01% shareholding in MultiChoice triggered a mandatory offer requirement when it raised its stake earlier in February. "Canal+ respects the decision taken by the Panel and will comply with it. On this basis, Canal+ confirms that it has applied for and received from the…

Jan

2021

By The African Mirror

Showmax creates first-ever Kenyan original series

ARTS AND ENTERTAINMENT

MPHO RANTAO AFRICAN streaming platform Showmax and CANAL+ have broken ground with a new drama series, a first collaboration between the platform and the French channel. The new series is called Crime & Justice, a gritty procedural & legal drama set in Kenya’s capital of Nairobi. Heavyweight actors Sarah Hassan and Alfred Munyua will take up the roles as the two detective leads, Maken and Silas, with the new role as a detective being Hassan’s first in her career. The new series focuses on Makena and Silas at the heart of the topical show that follows one ripped-from-the-headlines case per…