French media conglomerate Vivendi’s Canal+ has made a decisive move by announcing a mandatory offer to acquire all remaining shares of South African broadcaster MultiChoice, in a bid to solidify its presence in the African market. The proposal, disclosed on Monday, signals Canal+’s ambition to expand its influence and compete on a global scale.

The offer, valued at R125 per share in cash, amounts to approximately 35 billion rand ($1.9 billion), with the entire company valued at around R55 billion. This proposition represents a significant premium of 66% over MultiChoice’s closing price of R75 on February 1st, marking the last trading day before Canal+ revealed its indicative offer.

“This offer underscores our commitment to strengthening our position in the African broadcasting landscape,” stated a representative from Canal+, emphasizing the strategic importance of this acquisition.

The potential merger between Canal+ and MultiChoice promises to create a formidable broadcasting entity, poised to cater to diverse audiences across the African continent. With Canal+ boasting a strong foothold in French-speaking African nations and MultiChoice holding sway in English-speaking countries like South Africa, Nigeria, and Kenya, the combined entity could leverage its expansive reach to promote African content on a global scale.

“This deal represents a significant milestone in our journey to deliver compelling content to viewers not only in Africa but also on the international stage,” remarked a spokesperson from MultiChoice, echoing the sentiment of tapping into broader markets and audiences.

In preparation for the acquisition, MultiChoice has enlisted the expertise of Standard Bank of South Africa Limited as its advisor, signaling a strategic approach to navigate through the complexities of the deal.

Industry analysts anticipate that this proposed merger could herald a new era of broadcasting dominance in Africa, with the potential to reshape the landscape of the media industry on the continent and beyond.

As the regulatory process unfolds and stakeholders weigh in on the implications of this monumental deal, all eyes remain on Canal+ and MultiChoice as they embark on this transformative journey towards consolidating their positions as leaders in African broadcasting.