, Feb. 5 -- Canal Plus, a top shareholder in MultiChoice, had on Thursday offered R105 rand per share for every MultiChoice share it does not already own.

Canal Plus said the offer - worth R31.7bn according to Reuters calculations - was a 40% premium to MultiChoice's closing share price of R75 on 31 January.

MultiChoice said in a statement that a recently-conducted exercise valued the group at significantly above the offer price, excluding any potential synergies which may arise from the proposed deal.

Africa's biggest pay TV company added that the synergies that Canal Plus has conveyed "need to be factored into any fair offer made" by the French company.

Disha Mishra 1 Feb 2024

"Therefore, while the board is open to all means of max...