French connection: the battle for MultiChoice
The smart money says the pay-TV group’s rejection of Canal+ is not the end of what is, in fact, a multi-decade courtship
“The M&A dance is in full swing,” is how Protea Capital Management’s Jean Pierre Verster describes MultiChoice Group’s rather curt rejection of Canal+.
Not only has it rejected the R105 cash offer for each of the 65% of the shares the French group doesn’t own, but MultiChoice has taken the unusually forceful step of terminating year-long discussions with the French entertainment group, and withdrawing the cautionary announcement...
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