MultiChoice says it will make a new $89 million cash injection in Showmax, its streaming platform, by the close of March 2024. The latest development comes as Showmax gears up for its February 12 relaunch.
MultiChoice is now in talks to be acquired by Canal+ after the French giant offered to acquire all outstanding shares they don’t already own in the company for R105 ($5.65) per share—an increase from the broadcaster’s current share price of R79 ($4.25). Canal+ began acquiring shares in the South African company in 2020, and steadily increasing its stake to 31.7% by June 2023.
Vivendi, owners of Canal+ stated that it was increasing its stake in MultiChoice for international expansion.