MultiChoice Rejects Canal+'s $1.7 Billion Acquisition Offer, Citing Undervaluation

MultiChoice Rejects Canal+'s $1.7 Billion Acquisition Offer, Citing Undervaluation

#business
#entertainment
MultiChoice, the South African entertainment company, has turned down Canal+'s non-binding offer of $1.7 billion, expressing concerns about undervaluation. Despite Canal+'s increased shareholding from 31.67% to 35.01%, MultiChoice maintains that the proposed offer significantly underestimates its true worth. The board suggests it is open to considering offers from other interested parties at a fair price and under appropriate conditions.

Key Points:

- MultiChoice rejects Canal+'s bid of $1.7 billion, deeming it undervalued.

- Canal+ increases its shareholding in MultiChoice from 31.67% to 35.01%.

- MultiChoice remains open to acquisition offers from other interested parties at a fair price and under suitable conditions. πŸ“‰πŸ“ΊπŸ’°


#MultiChoice #CanalPlus #AcquisitionOffer #EntertainmentBusiness


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