CANAL+ continues to increase its stake in Multichoice and now owns 40.01% of the South African audiovisual group.
In early April, CANAL+ made an offer to purchase all of MULTICHOICE's shares (mandatory offer) and entered into a cooperation agreement concerning the preparation and implementation of this offer.
In parallel with these discussions, which are expected to conclude by the end of May, CANAL+ is continuing to increase its stake in MULTICHOICE.
In the press release announcing the offer, Canal+ stated that it reserved the right to purchase additional MultiChoice shares on the market.
The statement also indicates that if Canal+ acquires additional MultiChoice shares during the offer at a price higher than R125.00, it will be obliged to increase the offer price.
The price must be increased to at least the highest consideration paid per MultiChoice share on the market.