Billionaire Patrice Motsepe could join R55bn Canal+ bid for MultiChoice
Billionaire Patrice Motsepe is in talks with Vivendi SE's Canal+ to join its multibillion-rand bid for broadcaster MultiChoice Group, according to people familiar with the matter.
Representatives for both Canal+ and Motsepe’s investment company African Rainbow Capital declined to comment. Discussions are at an early stage and there is no guarantee that an agreement will be reached, said the people. Canal+ is expected to make a formal offer for MultiChoice at 125 rand a share, valuing the company at about R55 billion, before April 8 for consideration by the board’s independent members, said the people. The French company had Formed in South Africa in 1985, MultiChoice expanded across Africa in the early 1990s with packages including live English football matches and local shows. The company was spun off from Naspers in 2019.
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