Canal+ has upped its offer for MultiChoice to R125 a share, as it looks to make a mandatory offer to the pay-TV operator's shareholders for shares it does not already own.

“I am pleased to confirm that, after further consideration by the boards of Canal+ and MultiChoice, Canal+ has agreed to increase the price to make the mandatory offer for MultiChoice Group for a cash consideration of R125 per ordinary share. On this basis, both companies have mutually agreed to co-operate, and MultiChoice has agreed it will give exclusivity to Canal+,” chair and CEO of Canal+ Group Maxime Saada said on Tuesday...

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