The deal made by Canal+ Group, a French TV channel, to acquire South Africa’s MultiChoice at $2.9 billion has been considered “fair” and “reasonable”.
The deal made by Canal+ Group, a French TV channel, to acquire South Africa’s MultiChoice at $2.9 billion has been considered “fair and reasonable”.The board said “the terms and conditions of the offer are fair and reasonable to MultiChoice shareholders”.
The report said Canal+ made a firm offer of 125 rands in cash per MultiChoice share, or about 35 billion rands , which valued the company at about 55 billion rands.there are two major hurdles to the deal — even if MultiChoice shareholders vote in favour. Speaking on a media call on Tuesday, Maxime Saada, chairman and chief executive officer of Canal+, said the company had already invested close to €1.2 billion in buying a 45.2 percent stake in MultiChoice.
“I don’t see the Black economic empowerment as a hurdle. The foreign ownership is a hurdle,” Saada said.
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