MultiChoice and Canal+ have given details of the next steps in Canal’s mandatory takeover of the South African pay-TV company.

In a Combined Circular setting out the terms and conditions of the offer, it is confirmed Canal will acquire all the issued ordinary shares in MultiChoice it doesn’t already own, excluding treasury shares, from MultiChoice Shareholders for ZAR125.00 per share, payable in cash.

Canal+ and MultiChoice have now made a joint merger control filing to Competition Commission and are also engaging with the Independent Communications Authority of South Africa (ICASA) and other regulatory authorities.

Under the South Africa competition law, the transaction is classified as a ‘larger merger’, which requires approval by the Competition Tribunal.

MultiChoice officially accepted the offer from the Vivendi unit in June.

The combined company will have a presence in both the French and English-speaking markets. While Canal naturally has a hold over French-speaking African nations, MultiChoice has a stronger presence in English-speaking countries, including South Africa, Nigeria and Kenya.

National Broadcasting Commission (NBC), did not withdraw the license of EBS TV, Edo state’s broadcasting television, according to Crusoe Osagie, special adviser to governor Godwin Obaseki on Media Projects.

Godwin Obaseki

Osagie, in a statement urged the public to disregard the false claims describing it as the handiwork of mischief-makers

He explained that against claims that the license of EBS has been withdrawn over statutory failures, the Channel 55 under which the station operates on falls within the 700 megahertz band that is being repurposed by the federal government following an international treaty established by the International Telecommunications Union in 2015, of which Nigeria is signatory.

He disclosed that the NBC has, however, reassigned a new Channel 45 to Edo Broadcasting Service TV, while plans are in progress for the compensation for EBS by the NBC.

Osagie revealed that letters were written to the Broadcasting Stations within the band to inform them of the developments, notify them of new channels to relocate to, and provide their compensation needs for payment.

Affected Broadcasting stations were negotiated with beginning from around 2020 and 2021.

On the issue of licence fee, the Special Adviser said the Station was heavily indebted for over a decade, before Governor Obaseki came into office, adding that in June, 2022, the Governor approved and began to clear EBS indebtedness to the regulatory authorities.

iTEC is solidifying its position as one of the top brands in the electronics marketplace with the launch of its latest 75-inch UHD TV. This television, a product of Africa’s leading tech company, Zinox, is a masterpiece and nothing short of a marvel, as it provides an immersive visual experience that captivates casual viewers and tech enthusiasts across Nigeria and the broader Sub-Saharan market. 

Impressive Display and Resolution

One of the significant features of the iTEC 75-inch UHD TV is its stunning 3840×2160 resolution. This display produces clear, detailed images that bring your favourite shows, movies, and games to life. The 16:09 aspect ratio ensures that every scene is perfectly proportioned, and the display’s astounding 1.07 billion colours provide a vivid and rich palette. This TV expertly captures every hue, whether it’s the intense reds of a sunset or the deep blues of the ocean.

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Fast Performance and Smart Features

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Energy Efficiency and Power

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iTEC’s 75-inch UHD TV is a stellar offering for anyone looking to elevate their home entertainment experience. Its powerful performance, vibrant display, seamless connectivity, and immersive sound make it a must-have for tech-savvy individuals. With its impressive energy efficiency and robust features, this TV is sure to resonate with consumers in Nigeria and across Sub-Saharan Africa. Suppose you’re in the market for a cutting-edge TV that ticks all the boxes, iTEC’s latest model is definitely worth considering. Shop your iTEC TV now on konga.com for the best deals and seamless service.