MultiChoice Advised to Accept $2.9 Billion Buyout Offer from Canal+

12 Jun 2024

Africa’s largest pay-TV operator, MultiChoice, has received a recommendation from an independent board to accept a $2.9 billion buyout offer from French streaming service Canal+.


According to a valuation report by Standard Bank, the offer values MultiChoice at R120 ($6.4) per share. Canal+, a subsidiary of media conglomerate Vivendi, which already holds a 45.2 percent stake in MultiChoice, has proposed a slightly higher offer of R125 per share. This proposal, which does not require shareholder approval, will remain open until April 2025.


In a report published by the Financial Times on Tuesday, Maxime Saada, CEO of Canal+, highlighted that the acquisition is part of their strategic plan to establish “a global entertainment business with Africa at its heart.” Saada further noted that the deal aims to position Canal+ as a formidable competitor to major streaming platforms such as Netflix and Disney+.


The recommendation from the independent board to accept Canal+’s offer underscores the potential for significant growth and expansion in the African entertainment market. By integrating MultiChoice into its operations, Canal+ envisions creating a more robust and competitive presence in the global streaming industry.

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