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It was worth asking after Vivendi, the entity that owns Groupe Canal bought 6.5% of MultiChoice’s ordinary shares. But October is not where the story really starts.
Vivendi has been buying MultiChoice shares since April and they only had to disclose their position after they had bought more than 5% of MultiChoice ordinary shares.
Vivendi has now bought more shares in MultiChoice, disclosing that it now owns 12% of MultiChoice ordinary shares in issue.
The question: is Vivendi considering a takeover of MultiChoice? It’s not a far fetched conclusion, given that Vivendi has been expanding its African footprint in the last few years. Its acquisition of ROK Studios in 2019 showed that the company’s ambitions stretch beyond French speaking Africa.
What’s worth knowing here? In 2018, Vivendi made several bids to buy a controlling interest in MultiChoice. The bids were said to be in the region of $1 billion, were rejected by MultiChoice.
A takeover could still be on the cards:
Vivendi has a reputation for hostile takeovers, often buying minority stakes in the company first, before making takeover bids. It could very well be the play here.
Multichoice’S largest shareholders: Prudential Portfolio Managers (9%), Allan Gray (10.1%), Vivendi (12%) and Public Investment Corp (13.4%)