FRANCE-based multilateral broadcast group Canal+ has acquired a further 3.37 million MultiChoice shares, the Takeover Regulation Panel (TRP) said in a JSE regulatory notice yesterday.
Canal+ now held about 41.60% of the MultiChoice shares in issue. MultiChoice’s share price was trading 0.44% higher yesterday afternoon at R117.75 per share.
Two weeks ago MultiChoice said Canal+ had crossed 40% ownership of South Africa’s pay-TV group.
Over the past three years, Canal+ has gradually built its stake in MultiChoice – from 6.5% in October 2020 to 31.7% by March 31, 2023.
It made a formal offer to MultiChoice shareholders early this year, but the initial offer of R105 per share was rebuffed for being too low and a later offer of R125 per share cash was made.
On April 18, the TRP, Canal+ acquired 18 633 MultiChoice shares for an average R116 per MultiChoice Share. On April 19, Canal+ acquired 101 468 MultiChoice shares for an average R115.99 per share.
On April 19, Canal+ acquired 101 468 MultiChoice shares for an average R115.99 each.
On April 22, Canal+ acquired 1.62 million MultiChoice shares at an average R116.42 per share, and on Tuesday, Canal+ acquired 342 678 MultiChoice shares at an average price of R116.83 per MultiChoice share.
On Wednesday, April 24, Canal+ acquired 1.29 million shares for an average R117.59 per MultiChoice share.
BUSINESS REPORT