Multiple reports suggest South African billionaire Patrice Motsepe is in talks with Vivendi SE’s Canal+ to join its multibillion-dollar bid for South Africa’s leading pay-TV provider MultiChoice Group, according to people familiar with the matter.
Canal+ is expected to make a formal offer for MultiChoice at 125 rand a share, valuing the company at about 55 billion rand ($2.9 billion), before April 8 for consideration by the MultiChoice board’s independent members.
Patrice Motsepe's possible involvement in the bid could assist Canal+ in meeting these ownership requirements. With an estimated net worth of $2.5 billion in 2024, Motsepe brings substantial financial backing and strategic insight to the table.
However, spokespersons for Canal+ and Motsepe's investment firm, African Rainbow Capital, declined to provide comments. Insiders stressed that discussions are in preliminary stages, and there's no assurance that a deal will be finalized.
