Vivendi - The African Mirror

Jun

05

2024

South Africa’s MultiChoice recommends Canal+ offer

BUSINESS

AN offer by France's Canal+ for the shares it does not own in South Africa's MultiChoice (MCGJ.J), is "fair and reasonable" according to an independent board formed by the latter and reviewed by Standard Bank, the two broadcasters said. MultiChoice appointed the bank to examine the all-cash mandatory offer which would create a pan-African broadcaster with about 31.5 million subscribers across more than 50 countries. Canal+, part of French media group Vivendi (VIV.PA), in April, made a firm offer of 125 rands in cash per MultiChoice share, or about 35 billion rands ($1.88 billion), which valued the company at about 55 billion rands. The offer…

Apr

09

2024

By NQOBILE DLUDLA

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

BUSINESS

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…

Feb

06

2024

By The African Mirror

South Africa’s MultiChoice rejects Vivendi’s Canal Plus buyout offer

BUSINESS

SOUTH Africa's MultiChoice Group said it will not continue talks with Vivendi's Canal Plus after the board concluded that its offer significantly undervalues the company. Canal Plus, a top shareholder in MultiChoice, had on Thursday offered 105 rand ($5.55) per share for every MultiChoice share it does not already own. Canal Plus said the offer - worth 31.7 billion rands according to Reuters calculations - was a 40% premium to MultiChoice's closing share price of 75 rands on January 31. MultiChoice said in a statement that a recently conducted exercise valued the group significantly above the offer price, excluding any potential synergies which may…

Feb

02

2024

By NQOBILE DLUDLA

Vivendi’s Canal Plus offers to buy rest of South Africa’s MultiChoice

BUSINESS

VIVENDI'S Canal Plus has offered to buy all the shares it does not own in South Africa's MultiChoice Group for roughly $1.7 billion to strengthen its hand in a competitive international pay TV market. Canal Plus, the top shareholder in MultiChoice with a 31.67% stake according to LSEG data, said it would likely pay 105 rand in cash per share, a 40% premium to MultiChoice's closing share price on Wednesday. Shares in MultiChoice surged in Thursday trade but remained below the offer price. They were last up 24.83% at 93 rand. Canal Plus said its offer, worth 31.7 billion rand according to…