South African billionaire Patrice Motsepe is in talks with French media giant to join the bid for MultiChoice.
South African billionaire Patrice Motsepe is in talks with Vivendi SE’s Canal+ to join its multibillion-dollar bid for broadcaster MultiChoice Group, according to people familiar with the matter.
Representatives for both Canal+ and Motsepe’s investment company African Rainbow Capital declined to comment. Canal+ has built up a holding above 35% in MultiChoice, South Africa’s biggest pay-TV group, triggering a mandatory takeover offer. Canal+ is expected to make a formal offer for MultiChoice at R125 a share, valuing the company at about R55 billion, before April 8 for consideration by the board’s independent members, said the people.Formed in South Africa in 1985, MultiChoice expanded across Africa in the early 1990s with packages including live English football matches and local shows.
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