GUGU LOURIE: A sweetener could sway MultiChoice investors to take Canal+ offer
French group likely to secure PIC’s support if it enhances bid in line with investment corporation preferences
22 February 2024 - 05:00
If French media company Canal+ sweetens its offer to MultiChoice’s institutional shareholders, it is unlikely to face further hostility. Canal+ already holds 31.07% in MultiChoice and appears determined to acquire the balance.
With Canal+ still dangling the carrot, MultiChoice’s share price surged to R105 on February 16. A bit more sweetener and Canal+’s offer for Africa’s largest pay-TV operator may be accepted by institutional shareholders, who hold more than 20% of MultiChoice...
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