TIISETSO MOTSOENENG: Canal+ bid for MultiChoice sets up regulatory showdown
Offer has potential to expose a clash between Icasa and TRP, which may have far-reaching consequences
The battle for MultiChoice has taken a dramatic turn. Canal+ has raised its offer for Africa’s largest pay-TV operator to R125 per share, valuing the firm at about R55bn. The new all-cash offer, which is 19% higher than the previous bid, will see both companies enter exclusive talks on the deal.
Canal+ has said the offer was fair and attractive for MultiChoice shareholders and customers, who would benefit from its global expertise and content. MultiChoice has not yet accepted the new offer but it has undertaken not to engage with other potential bidders. To be sure, MultiChoice may still reject it based on the opinion and recommendation of its independent expert...
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