Canal+ has continued snapping up shares in MultiChoice as a 4 June deadline nears to publish a joint circular.
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France’s Groupe Canal+ has continued to buy shares in acquisition target MultiChoice Group.
MultiChoice has announced Imtiaz Patel’s exit as chairman, just weeks after saying he would stay on in the role.
Groupe Canal+ has disclosed that it has bought even more shares in MultiChoice Group in recent days.
French broadcaster Canal+ has bought up another big chunk of shares in acquisition target MultiChoice Group.
MultiChoice has agreed to work closely with Canal+ on a mandatory offer the latter must make to the former’s shareholders.
The two companies believe scale, shared experience and a large war chest will help see off the threat from US streamers.
MultiChoice has rescinded a previous announcement that Imtiaz Patel would step down as its chairman with effect from 1 April.
Patrice Motsepe is in talks with Canal+ to join the multibillion-dollar bid for MultiChoice Group, sources have said.
Groupe Canal+ has raised its offer to buy all the shares of MultiChoice, with the parties agreeing to exclusive talks.