French media conglomerate Vivendi has made a firm offer to acquire MultiChoice, offering R125 per share. Vivendi is also considering a European listing for Canal+ and argues that scale is essential to compete with US giants like Netflix.
French media conglomerate Vivendi , the owner of Canal+ , has announced a firm offer for DStv and Showmax owner MultiChoice, offering shareholders R125 per share. Vivendi is also considering a European listing for Canal+ , and a secondary inward listing, on the JSE, and argues that scale is essential to take on US giants like Netflix .
An earlier non-binding offer of R105 per share in February was rebuffed by the board of Africa's biggest pay-TV operator as too low, and Canal+ subsequentlyCanal+, whose parent is Vivendi, operates in 50 countries across Europe, Africa and Asia, directly serving 8 million customers in Africa. It had about 25 million total subscribers as of its 2023 year, while MultiChoice had 23.5 million.
Vivendi, the parent company of Canal+, is also currently undertaking a feasibility study for the proposed split of the company into several separately listed entities, first announced in December. However, given the voting cap, the Takeover Regulation Panel was then asked to make a ruling, finding in February that Canal+ must. Following an extension, it was given until 8 April to make its mandatory offer.MultiChoice has also granted exclusivity to Canal+, which entails not engaging with other competing parties. However, should a better, unsolicited proposal be received, Canal+ will have the opportunity to revise its offer.
Vivendi Multichoice Canal+ Offer Acquisition European Listing Scale Competition Netflix
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