Canal Plus Group has said it has purchased an additional 3.7 million shares in MultiChoice to take its holding in the South African broadcaster to 40.83%.
Last week the Vivendi unit made a mandatory offer to buy all the shares in MultiChoice it doesn’t already own for 35 billion rand (€1.7 billion).
Canal says it reserves the right to buy more shares within the market for the duration of its offer.
The current offer of 125 rand per share is currently under consideration by the MultiChoice board. If Canal were to pay more than 125 rand per share it would be obliged to further increase its offer accordingly.
