{"id":767726,"date":"2024-04-12T08:08:10","date_gmt":"2024-04-12T06:08:10","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=767726"},"modified":"2024-04-12T08:08:15","modified_gmt":"2024-04-12T06:08:15","slug":"canal-ups-stake-in-multichoice","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/767726\/canal-ups-stake-in-multichoice\/","title":{"rendered":"Canal+ ups stake in Multichoice"},"content":{"rendered":"\n

Canal+ has increased its shareholding in MultiChoice as the two companies work on a takeover.<\/p>\n\n\n\n

Despite already submitting an all-cash offer worth roughly R54 billion<\/a>, Canal+ has increased its shareholding in MultiChoice from just over 35% to 40.01% <\/p>\n\n\n\n

As per the Companies Act, Canal+ had to make an offer to buy the rest of MultiChoice after breaking the 35% threshold. <\/p>\n\n\n\n

Canal+ has offered to buy all the shares at R125 apiece, which is being considered by a newly formed independent board at MultiChoice. <\/p>\n\n\n\n

Although Canal+ was given the right to buy more MultiChoice shares earlier this week, should these shares be bought at more than R125 each, the French broadcaster would be obliged to increase the officer price to \u201cnot less than the highest consideration paid\u201d per share bought. <\/p>\n\n\n\n

MultiChoice’s share price currently stands at just under R120 a share. <\/p>\n\n\n

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MultiChoice Share Price<\/figcaption><\/figure><\/div>\n\n\n

Despite Canal+ already owning 40% of MultiChoice, the latter’s memorandum of incorporation means that a foreign company’s aggregate voting power can not exceed 20% of the total voting power in the group to ensure certain statutory requirements. <\/p>\n\n\n\n

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Read<\/strong>: Class sizes in South Africa \u2013 public vs private schools<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Canal+ has increased its shareholding in MultiChouce, with the French Broadcaster’s R54 billion takeover currently with an independent board. <\/p>\n","protected":false},"author":95,"featured_media":747504,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[6633,26],"class_list":["post-767726","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-canal","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/767726","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/95"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=767726"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/767726\/revisions"}],"predecessor-version":[{"id":767743,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/767726\/revisions\/767743"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/747504"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=767726"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=767726"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=767726"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}