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Canal+ Ups Buyout Offer For African Content Giant MultiChoice To $1.8B
France's Canal+ has upped a buyout offer for African TV and streaming giant MultiChoice to around $1.77B.
Vivendi-owned Canal+ is already MultiChoice’s biggest single shareholder, and last month had an earlier offer rejected on grounds it significantly undervalued the African company. To accelerate MultiChoice’s development in Africa and beyond, it will need to adopt a strategy that will enable it to increase its size and strengthen its local and global footprint,” said Canal+ CEO Maxime Saada on the announcement of the initial offer last month. Streaming service Showmax has become a key local originals player and recently relaunched using tech from NBCUniversal, which owns 30% of its shares.
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