Audio By Carbonatix
French media company Canal+ has made an offer of $2.9bn (£2.2bn) to fully acquire South African broadcasting company MultiChoice.
It is a more attractive price compared to the $1.7bn bid that it presented to MultiChoice in February, which MultiChoice's board rejected as undervaluing the company.
MultiChoice is Africa's largest provider of subscription TV services, which include DSTv and streaming service Showmax.
Canal+ already owns 35% of MultiChoice and is the majority shareholder in the South African company.
The intended acquisition of MultiChoice is part of Canal+'s strategy to expand its presence on the continent beyond West African and French-speaking countries.
Canal+ operates in 25 African countries and is the leading operator of pay TV services in French-speaking African countries.
MultiChoice's profits have declined in recent years, amid growing competition from streaming services.
Latest Stories
-
Iranian attack on Saudi tanker killed two Filipino sailors, Saudi Arabia says
33 minutes -
Presidency reveals ‘impending reshuffle’ of SOE CEOs
50 minutes -
Gov’t to provide industrial crushers to support informal waste recyclers
53 minutes -
The Scroll That Rules the World: The unstoppable power of social media
54 minutes -
Treat Okuapeman-Mount Sinai violent clash as a criminal matter – Akuapem North MP
55 minutes -
‘Leadership has failed’ – NDC executive raises concerns over development in Madina
58 minutes -
Vendors promise quality, discounts at Joy FM Back-to-School Fair
1 hour -
Ghana leather manufacturers demand lower tariffs, threaten demonstration over high costs
1 hour -
Roads Minister threatens to terminate Techiman–Nkonsia–Wenchi road contract
1 hour -
Beyond compliance: Industrial resilience as a strategic component of national security
1 hour -
What if “I’m fine” isn’t fine?
2 hours -
Nigerian music lawyer Akinyemi Ayinoluwa reveals factors driving Nigeria’s music success
2 hours -
Boards’ dissolution: Mahama won’t tolerate indiscipline, poor performance – Secretary
2 hours -
Missing gospel musician Bernice Offei found
2 hours -
Chief Justice Baffoe-Bonnie explains why judges sit during Ghana’s legal vacation
2 hours