SA regulator mandates Canal+ to issue mandatory offer to MultiChoice

Connie Queline

SA regulator mandates Canal+ to issue mandatory offer to MultiChoice

South Africa’s takeover panel has ruled that French media company Groupe Canal+ SA is required to make a mandatory offer immediately to buy shares of pay-TV company MultiChoice that it does not already own, MultiChoice said on Wednesday.

Listen: Canal+ needs to make mandatory offer, bypassing MultiChoice board

Canal Plus, a top shareholder in MultiChoice that had a 31.67% stake when it proposed the offer, raised its stake to 35.01% following the deal’s announcement earlier this month, just above the threshold that would require the company to make a mandatory offer to shareholders.

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Read: SA’s takeover panel reviewing Canal Plus’ attempt to buyout MultiChoice

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