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Vivendi Bids For Africa’s MultiChoice at $2.5 Billion Value
- Canal+ offers a 40% premium for South African pay-TV firm
- Canal+ is already the biggest shareholder in MultiChoice
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Vivendi SE’s Canal+ has offered to buy the shares of South African pay-TV company MultiChoice Group that it doesn’t already own in a deal that values the business’s shares at 46 billion rand ($2.5 billion).
Canal+, which is MultiChoice’s biggest shareholder with a 31.7% stake, has offered 105 rand per share in cash for the rest of the business, the French media group said in a statement on Thursday. The non-binding bid represents a 40% premium to the company’s last closing price.