Canal+: an offer to acquire the entire South African group MultiChoice (20 million subscribers)

"Canal+ confirms that it has submitted a letter, to the board of directors of MultiChoice, containing a non-binding indicative offer to acquire all of the issued ordinary shares of MultiChoice that it does not already own, subject to obtaining the necessary regulatory approvals," announced the French pay and free-to-air TV group on 01/02/2024.

MultiChoice is South Africa's leading pay-TV operator, with more than 20 million subscribers in seven sub-Saharan African countries (English- and Portuguese-speaking). Canal+ is already the leading shareholder, with a stake of around 33%, via a total investment of almost €1bn over the last three years, according to Maxime Saada, chairman and CEO of Canal+ Group.

"Subject to certain confirmations that Canal+ expects following further engagements with MultiChoice, Canal+ anticipates its offer to be for a cash consideration of ZAR 105.00 (€5.19 as of 02/02/2024) per MultiChoice ordinary share which would represent a premium of 40.0% to MultiChoice's closing share price of ZAR 75.00 (€3.71) on 31/01/2024," added the Vivendi subsidiary, whose new…