MultiChoice: "exclusive" discussions with Canal+ after an increase in the group's takeover offer

MultiChoice, South Africa's leading pay-TV operator and owner of sports pay-TV group Supersport International, is in "exclusive" discussions with pay-TV and free-TV group Canal+ after the latter increased its offer to acquire the South African group, announced MultiChoice on 05/03/2024.

The price offered by Canal+ is now ZAR125 (€6.04 as at 05/03/2024) per ordinary share in the MultiChoice group, compared with ZAR105 (€5.07) in its initial offer submitted on 01/02/2024 and rejected on 05/02/2024. "After careful consideration, the board has concluded that the proposed offer price of ZAR105 in cash significantly undervalues the group and its future prospects," explained the South African group at the time.

MultiChoice has more than 20 million subscribers in seven countries in sub-Saharan Africa (English- and Portuguese-speaking). Canal+ is already the leading shareholder, with a stake of around 33%, via a total investment of nearly €1bn over the last three years.

"A merger of our two groups would enable the new entity to expand access to sport for its subscribers while investing in…