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Canal+ required to make mandatory offer to MultiChoice, regulator rules

Babatunde Bamigboye, head of legal at the Nigeria Data Protection Commission, said 'the depth of data processing by MultiChoice is patently intrusive, unfair, unnecessary and disproportionate, affecting not only subscribers but also their associates'. File photo.
Babatunde Bamigboye, head of legal at the Nigeria Data Protection Commission, said 'the depth of data processing by MultiChoice is patently intrusive, unfair, unnecessary and disproportionate, affecting not only subscribers but also their associates'. File photo. (REUTERS/Esa Alexander)

South Africa's takeover panel has ruled that French media company Groupe Canal+ SA is required to immediately make a mandatory offer to buy shares of pay TV company MultiChoice that it does not already own, MultiChoice said on Wednesday.

Canal Plus, a top shareholder in MultiChoice that had a 31.67% stake when it proposed the offer, raised its stake to 35.01% after the deal's announcement earlier this month, just above the threshold that would require the company to make a mandatory offer to shareholders.

Reuters

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