Canal+ Takes Full Control of MultiChoice
Canal+ has secured 94.4% of MultiChoice Group's issued shares following the close of its mandatory offer to shareholders.
The French media giant, Groupe Canal+, has all but completed its takeover of MultiChoice, with 94.39% of the South African pay-TV group’s issued shares.
- The offer, which closed on 10 October, was accepted by shareholders holding more than 217.6 million MultiChoice shares.
- This represents about 92.5% of the shares subject to the offer.
Combined with the shares Canal+ already held, the French company’s total stake has risen to just under 95%.
Canal+ to take full ownership of MultiChoice, ending the company’s six-year run as a separately listed company on the JSE.
Author's summary: Canal+ takes control of MultiChoice.