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Canal+ Acquisition Of Africa’s MultiChoice Firms Up As Parties Officially Announce Proposed Deal
Canal+ Acquisition Of Africa’s MultiChoice Firms Up As Parties Officially Announce Proposed Deal
French Canal+ Group’s operation to take full control of African media and entertainment giant MultiChoice appears to be moving forward with both parties announcing they had finalized the terms of the mandatory offer in a joint statement on Monday. The parties added that the deal represented a 66.66% premium to the closing price of 75 South African Rand on January 31, 2024, which was the last trading day prior to Canal+’s first non-binding Indicative offer. The announcement does not mean the acquisition is a done deal and the group still has to navigate South African rules limiting foreign ownership of local commercial broadcasters, but it is a move in the right direction.
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