Canal+ raises bid for S.Africa’s MultiChoice

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(Reuters) – French media group Vivendi (EPA:VIV)’s Canal+ has raised its offer to buy all the shares of South Africa’s MultiChoice that it does not already own, the companies said on Tuesday.

Canal+, the biggest shareholder in MultiChoice, had agreed to raise its bid to 125 rand per share from its earlier offer of 105 rand.

Last month, Canal+ had requested an extension to the Takeover Regulations Panel after MultiChoice had rejected a 105 rand per share offer, saying it significantly undervalued the group.

(This story has been corrected to change the offer price to 125 rand from 124 rand in paragraph 2)