In rejecting Groupe Canal+’s bid, MultiChoice Group made a rather interesting remark to investors on Monday.
Author: Duncan McLeod
Duncan McLeod
Duncan McLeod is founder and managing editor of TechCentral. With more than 30 years of experience in technology journalism, he has worked for and contributed to a range of publications, including the Financial Mail, the Sunday Times and the Financial Times.
MultiChoice Group’s board has rejected a bid by France’s Groupe Canal+ to buy out the JSE-listed broadcaster.
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A deal will be exceptionally difficult – if not impossible – to get over the line. So, why is Canal+ pursuing control of MultiChoice?
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Canal+ said it expects to offer R105/share for MultiChoice, or a 40% premium to the closing price on 31 January.
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