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. 📉📺💰
#MultiChoice #CanalPlus #AcquisitionOffer #EntertainmentBusiness
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