French entertainment company makes a move to buy DStv

French entertainment giant Canal+ has made an offer to acquire full control of MultiChoice, the owner of DStv.

In a letter to the MultiChoice board, Canal+ confirmed its intention to buy all remaining shares it does not already own, offering shareholders a cash payment of R105 per MultiChoice ordinary share.

This offer represents a premium of 40% to the company’s closing share price on Wednesday.

Canal+ has expressed its ambition to create an African media business with enhanced scale, allowing it to thrive in the competitive international market.

The company aims to provide consumers with a world-leading offering of sports, local, and global content. Additionally, Canal+ wants to ensure that Africa can tell its story to a global audience on its own terms.

The proposed acquisition would not only allow MultiChoice to benefit from Canal+’s expertise and resources but also provide African audiences with a broader range of entertainment options.

By combining forces, the two companies can leverage their strengths and create a media powerhouse in Africa.

The African media industry has been experiencing significant growth in recent years, with a rising demand for both local and international content.

Canal+’s acquisition of MultiChoice would strengthen its position in the market, enabling it to better serve consumers and meet their evolving entertainment needs.

This move also highlights Canal+’s commitment to investing in Africa and supporting the development of the continent’s media industry.

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