Canal+ increases MultiChoice acquisition offer to $2.9 Billion.

Africa Finance Review

Mar 6, 2024 — 1 min read

Image Credit : Timon -Adobe Stock Images

Vivendi SE’s Canal+ French mass media holding company has increased its offer bid to $2.9 billion for MultiChoice the African leading entertainment company.

Why is this important: The African pay TV market is expected to grow consistently over the next five years; according to reports from Digital TV Research, the continent's subscriber base is expected to increase to 57 million in 2027, with increased revenue to $6.46 billion in the same year.

MultiChoice had rejected Vivendi SE’s Canal+'s previous offer of 105 rand per share as being too low as it undervalues its media assets and coverage across the continent. With the revised all-cash offer of 125 rand per share, the company is valued at $2.9 billion. MultiChoice has signed an exclusivity agreement with Vivendi SE’s Canal+ as they go through the process.

The bottom line: Although Canal + has a presence in Africa, MultChoice, through its DStv and Gotv media products, continues to lead with a solid subscriber base that is expected to increase to 20.8 million by 2027. The demand for these services will continue to grow, and local and international content providers will look for channels to distribute their content.

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Ecobank Repays $500Million 5-Year Eurobond Debt.

Egypt Receives $820 Million From IMF's Extended Fund Facility (EFF) Deal.

Kenya: The Rise of Rutonomics

Ghana Yet To Restructure $13 Billion Debt with International Bondholders