Previous close | 10,642.00 |
Open | 10,700.00 |
Bid | 10,351.00 x 0 |
Ask | 10,840.00 x 0 |
Day's range | 10,602.00 - 10,736.00 |
52-week range | 6,231.00 - 12,200.00 |
Volume | |
Avg. volume | 1,516,795 |
Market cap | 45.332B |
Beta (5Y monthly) | 0.43 |
PE ratio (TTM) | N/A |
EPS (TTM) | N/A |
Earnings date | N/A |
Forward dividend & yield | N/A (N/A) |
Ex-dividend date | 07 Sept 2022 |
1y target est | N/A |
MultiChoice appointed the bank to examine the all-cash mandatory offer which would create a pan-African broadcaster with about 31.5 million subscribers across more than 50 countries. Canal+, part of French media group Vivendi, in April made a firm offer of 125 rand in cash per MultiChoice share, or about 35 billion rand ($1.88 billion), which valued the company at about 55 billion rand. Maxime Saada, chairman and CEO of CANAL+, said on a media call that the French company had already invested close to 1.2 billion euros buying a 45.2% stake in MultiChoice.
JOHANNESBURG (Reuters) -French media group Vivendi's Canal+ has raised its offer to buy all the shares of South Africa's MultiChoice that it does not already own, the companies said. Canal+, the biggest shareholder in MultiChoice, will offer 125 rand per share, valuing the pending shares at about 33.7 billion rand ($1.77 billion) according to Reuters calculations, after its previous offer of 105 rand was rejected last month. Maxime Saada, chairman and CEO of Canal+, told Reuters on Tuesday that the French company had engaged with the board of Africa's biggest pay-TV company to determine a reasonable price that would lead them to resume talks.
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. It held a 31.67% stake at the time which rose to 35.01% shortly afterwards, topping a 35% threshold where a mandatory offer is required. Its offer of 105 rand per share was rejected by the board of MultiChoice, saying it significantly undervalued the group.