Africa French Media Giant Canal+ Proposes $2.9 Billion Bid for MultiChoice in Pan-African Broadcasting Move

French media group Vivendi’s Canal+ has announced its intention to acquire all remaining shares of South African broadcaster MultiChoice, marking a significant move in the global media landscape.

The proposed offer, valued at 125 rand per share in cash, represents a premium of 66% over MultiChoice’s recent closing share price. If successful, the acquisition will establish a pan-African broadcasting giant, combining Canal+'s influence in French-speaking African nations with MultiChoice's presence in English-speaking countries.

While the deal presents opportunities for expansion and synergy, it may encounter regulatory scrutiny and challenges regarding competition concerns. Canal+ remains optimistic about the potential synergies, aiming to leverage MultiChoice’s infrastructure to solidify its position in the African media market.

Backstory: Canal+ initially proposed a $2.5 billion bid in February, later revising it to $2.9 billion amid discussions with prominent African billionaire Patrice Motsepe.