Patrice Motsepe MultiChoice Bid
27-03-2024
According to insiders, South African billionaire Patrice Motsepe is discussing potentially joining French Vivendi SE’s Canal+ bid for the MultiChoice Group.
The potential sale of the broadcaster was triggered by Canal+ hitting the 35% ownership threshold. The formal offer is expected to come in at R125 per share for an estimated R55 billion total. Canal+ had initially offered R105 per share but MultiChoice expected more.
Neither Canal+ nor African Rainbow Capital, Motsepe’s investment firm, would comment on the matter. However, this partnership would help the French company secure the deal and allow it to grow its subscriber base to 50 million. The group aims to invest more in local content and sports.
Canal+ will present its bid before 8 April 2024.
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