Afrigather Patrice Motsepe, president of the Confederation of African Soccer and South Africa’s richest black man, is in talks to hitch Canal+’s bid for MultiChoice, based on reporting by Bloomberg. The report additional states that the discussions are nonetheless at an early stage and that there isn’t any assure that an settlement might be reached.
Motsepe, price $2.4 billion based on Forbes, is the founder and chairman of Ubuntu-Botho Investments and African Rainbow Capital (ARC). Among the firms’ investments embody cellular community operator Rain and neobank TymeBank. Motsepe additionally has mining pursuits by way of Africa Rainbow Minerals (ARM).
Earlier this month, Canal+ made an offer of R125 per share for the pan-African broadcaster, a 20% improve from the preliminary provide of R105 per share submitted in early February.
The provide valued MultiChoice at about $2.9 billion. Since 2020, the French firm has elevated its stake in MultiChoice from 20.1% to 35.01% when the primary provide was made in February 2023.
Since Canal+’s flirtations, consultants have identified the regulatory complexities that the deal to amass MultiChoice would possibly incur.
Motsepe’s involvement within the deal might be able to handle a few of these complexities, which embody the truth that international firms should not allowed to have greater than 20% voting rights in South African broadcasting firms.
“With its roots in South Africa, the approaching onboard by [Motsepe] would guarantee Multichoice stays in South Africa and meets the edge of native possession required by authorities,” stated Mpumelelo Ndiweni, CEO of Colmin Group, an African markets advisory and funding firm.
