MultiChoice has blamed a “challenging consumer environment” for a 9% slump in active subscribers.
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MultiChoice warned of deepening full-year losses as it battles forex losses and an increasingly difficult trading environment.
Canal+ and MultiChoice have hinted at how they will seek to get around strict foreign ownership restrictions in South Africa.
An independent board formed by MultiChoice recommended an all-cash mandatory offer made by France’s Canal+.
Canal+ has continued snapping up shares in MultiChoice as a 4 June deadline nears to publish a joint circular.
France’s Groupe Canal+ has continued to buy shares in acquisition target MultiChoice Group.
MultiChoice has announced Imtiaz Patel’s exit as chairman, just weeks after saying he would stay on in the role.
Groupe Canal+ has disclosed that it has bought even more shares in MultiChoice Group in recent days.
French broadcaster Canal+ has bought up another big chunk of shares in acquisition target MultiChoice Group.
MultiChoice has agreed to work closely with Canal+ on a mandatory offer the latter must make to the former’s shareholders.