This site requires JavaScript to be enabled. Please enable JavaScript in your browser settings, or upgrade to a modern browser.

MultiChoice’s share price surges 24% after R46.5bn buyout offer

Loading player...

GUEST - Mudiwa Gavaza - business writer for the Business Day and Financial Mail

French entertainment giant Canal+ wants to take control of MultiChoice, making an offer on Thursday to buy all remaining shares it does not own of the DStv owner.

In a letter to the MultiChoice board, Canal+ confirmed it would offer shareholders a cash payment of R105 per MultiChoice ordinary share, a premium of 40% to the JSE-listed company's closing share price of R75 on Wednesday.

MultiChoice surged in response, trading as high as R94.55, but in afternoon trade it was only about 24% higher at R92.48. The shares have still fallen by about 23% in the past one year.

1 Feb 2024 3PM English South Africa Business News · Investing

Other recent episodes

SA Homeowner growth steady, report finds

Hayley Ivins-Downes from Lightstone Property shares data about home-buying activity in South Africa, which paints an interesting picture about affordability and which specific parts of the country are seeing the most development.

27 Mar 5AM 11 min

INSIDE YOUR POCKET – South Africa’s consumer credit market steady

Data from TransUnion shows that South African credit usage has shown tentative recovery to a more broad-based recovery, with first-time buyers now accounting for just over half of financed purchases. Ayeshaa Hatea, from TransUnion South Africa, explains these findings and more.

27 Mar 5AM 11 min

Pivot Point - Building Africa’s Vaccine Sovereignty

Today on Pivot Point, we spotlight a leader whose work sits at the intersection of science, industrialization, and national security. Dr. Morena Makhoana, the CEO of Biovac, has spent two decades shaping South Africa’s vaccine manufacturing landscape and unpacks that journey.

27 Mar 5AM 25 min

South Africa’s Central Bank Holds Rates, on Rising Inflation Concerns

The South African Reserve Bank’s monetary policy committee earlier decided – in a unanimous decision – to keep rates unchanged at 6.75%. To discuss the implications for local consumers, we’re joined by Tshiamo Masike, Economist, Momentum Investments

27 Mar 5AM 34 min

Africa’s Trade Links Strengthen; Future Geopolitical Risks Loom

Data from Standard Bank signalled significant growth in intra-African trade in the past year, showing positive moment towards the continent achieving a successful AfCFTA. However, that picture could be complicated by recent tensions in the Middle East. For more on this let’s listen in to, Philip Myburgh, Head: Trade for…

25 Mar 4PM 12 min

All episodes