'Time is of the essence': French giant Canal+ makes formal bid for MultiChoice
French media giant Canal+ says it's confident about getting a tie-up with MultiChoice over the line after securing cooperation from the owner of DStv and Showmax.
Canal+, which first invested in MultiChoice in 2020, formally made a R125 per share offer for Africa's largest pay-TV operator on Monday, valuing it at about R55 billion on the JSE. This had been expected, with the group first making a proposal in February that was rebuffed as too low, but both parties also announced on Monday they have agreed to work closely to ensure the transaction can be implemented.South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we're about to enter a new chapter of fearless journalism.
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