Canal+ has been given an extra 25 days to make a mandatory offer to shareholders of MultiChoice Group.
Groupe Canal+ has been given an extra 25 days to make a mandatory offer to shareholders of JSE-listed MultiChoice Group.
This comes after the TRP ruled that Canal+, after having bought more than 35% of MultiChoice’s shares, had triggered the threshold under South African law that required it to make the mandatory offer.MultiChoice’s board had on 5 Februaryof R105/share and told its shareholders that they no longer had to exercise caution in trading in the group’s shares. But that was before Canal+ upped its stake to beyond 35%.
According to the regulations, Canal+ must make a “firm intention announcement” to MultiChoice shareholders.
Fifty percent of the voting rights in MultiChoice, other than those held by Canal+ , must agree for the mandatory offer to succeed. Barring that, Canal+ is not at liberty to back out of the deal.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Multichoice rejects Canal+ offer, notes share purchaseIT Industry News. Daily.
Read more »
Canal+ mandatory offer - what happens next in MultiChoice sagaTechCentral has a look at what Canal+ must do now to comply with takeover regulations in its pursuit of MultiChoice.
Read more »
Canal+ Announces Intention to Acquire MultiChoiceMultiChoice's share price jumps after Canal+ announces its intention to buy the company. Uncertainty remains on whether the deal will go through.
Read more »
Groupe Canal+ confident in bid for MultiChoice despite regulatory hurdlesGiant Groupe Canal+ has expressed confidence in its bid to acquire South African pay-television operator MultiChoice Group, despite the high regulatory hurdles the Vivendi Group subsidiary must first overcome.
Read more »
Caution urged as Multichoice/Canal+ saga continuesIT Industry News. Daily.
Read more »
MultiChoice strikes deal to bring Paramount+ to AfricaParamount Global has signed a deal with MultiChoice to bring the Paramount+ streaming service to African audiences.
Read more »