Canal+ continues to vacuum up MultiChoice stock, buying another 3,374,668 shares on the open market.
French media conglomerate Groupe Canal+ has acquired another 3,374,668 shares in DStv owner MultiChoice, bringing its total ownership of the company to 41.59%.“Canal+ confirms that these acquisitions have already been disclosed to the Takeover Regulation Panel as required under the Companies Act and ,” it stated.
“Some shareholders have asked whether Canal+ might cross the 50% shareholding in this way,” MultiChoice stated. MultiChoice also reaffirmed that should Canal+ buy shares for more than R125 each, it would be obliged to increase its offer price to match.When its shareholding exceeded 20%, it raised concerns that it could be violating South Africa’s Electronic Communications Act .Exercise control over a commercial broadcasting licensee; or
Groupe Canal+ Headline Multichoice Broadcasting
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.
Canal+ offer for MultiChoice gains shareholder supportEarly indications are that some shareholders view the deal as a blessing and an opportunity to bail out from their investment in MultiChoice.
Read more »
Canal+ steps up MultiChoice buying spreeGroupe Canal+ has disclosed that it has bought even more shares in MultiChoice Group in recent days.
Read more »
Canal+ again increases MultiChoice shareholdingAfter the latest trades are implemented, Canal+ will hold an aggregate of 40.83% of the MultiChoice shares in issue.
Read more »
Canal+ Offers All-Cash Bid for MultiChoice, Valuation Underestimates PotentialCanal+ has made an all-cash formal offer for MultiChoice, but the valuation does not fully consider the potential of the DStv owner. MultiChoice's complex structure and emerging ventures make it difficult to evaluate. The offer takes into account the challenges posed by Netflix, Amazon, and other OTT content providers.
Read more »
While MultiChoice debates selling, Canal+ is buying more sharesCanal+ now owns 40.01 percent of MultiChoice's ordinary shares. Canal+ now owns 40.01 percent of MultiChoice's ordinary shares.
Read more »
Canal+ buys more MultiChoice sharesThe French-based media giant Canal+ has bumped up its shareholding in the South African video entertainment group to 40.01%.
Read more »