MultiChoice Group’s board has rejected a bid by France’s Groupe Canal+ to buy out the JSE-listed broadcaster.
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The French broadcaster has claimed it can work around local ownership rules. Experts don’t necessarily agree.
A deal will be exceptionally difficult – if not impossible – to get over the line. So, why is Canal+ pursuing control of MultiChoice?
Canal+, the company with French roots and global reach, has a similar history to South Africa’s MultiChoice Group.
Senior management changes have been announced at MultiChoice Group and MTN South Africa.
MultiChoice has disclosed details of the monetary investment it and partner Comcast are making in Showmax.
Canal+ said it expects to offer R105/share for MultiChoice, or a 40% premium to the closing price on 31 January.
MultiChoice Group still holds WWE broadcast rights, despite Netflix acquiring them in some international markets.
MTN South Africa has announced aggressively priced data plans aimed at supporting MultiChoice’s newly relaunched Showmax.
Senior counsel for eMedia Holdings and MultiChoice Group battled it out at the Competition Tribunal on Thursday.