Canal+, the France-based global broadcasting group, said yesterday it had acquired a further 3.65 million MultiChoice shares as its cash buyout of the African broadcast group continued.
On April 6, Canal+ and MultiChoice Group jointly announced the terms of a mandatory offer by Canal+ to acquire all of the shares of MultiChoice not already owned by Canal+. from shareholders of MultiChoice, to further the France-based broadcaster’s aims of becoming a major African and global broadcaster.
Canal+ said that on last Friday, it acquired 1.82 million MultiChoice shares in transactions for an average of R117.50 per MultiChoice share.
On Monday, it acquired 810 391 MultiChoice shares at an average R115.99 per MultiChoice share.
On Tuesday, it acquired 1.01 million MultiChoice shares at an average R115.95. On Wednesday, a further 5 093 MultiChoice shares were acquired.
The share purchases will leave Canal+ with about 40.83% of the MultiChoice Shares in issue.
Canal+ said these acquisitions were already disclosed to the Takeover Regulation Panel as required under relevant regulations, and it may acquire further MultiChoice shares.
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