(AOF) – Canal+, owned by the Vivendi group, has made a firm offer – 125 rand per share – to buy all the shares of the South African broadcaster MultiChoice that it does not yet own, the two companies indicated. The media group’s proposal values its target at 55 billion rand ($2.9 billion). MultiChoice had rejected an initial approach from Canal + to the tune of 105 rand per share. The offer will be reviewed by a newly formed independent board of directors of MultiChoice.
“The Canal + group is confident about the success of this offer, the price of which far exceeds the minimum required by regulations. I am convinced that Canal + and MultiChoice will constitute a formidable combination,” declared Maxime Saada, chairman of the board of directors of the Canal + group.