Canal+ had promised MultiChoice shareholders an opportunity to invest in the combined entity if their transaction is approved by local legislation before the split occurs. Basically shareholders will be given an opportunity to make more money outside of the Randburg based company which does bring up another agenda - MultiChoice.
If shareholders are able to invest this combined entity with a secondary listing how is one sure that the current structure of MultiChoice will be preserved. Aside from DStv, there's also gambling (BetKing), insurance (NMIS Insurance), streaming (Showmax) and cybersecurity (Namola) and as we all know they're technically insolvent.
Let's say they do end up getting their money's worth through this secondary listing and similar to what Naspers did with MultiChoice by given them an independent listing on the JSE. Whose to say that these investors won't want to reduce their losses.
Canal+ is acquiring MultiChoice and this secondary listing could as well be one way to align M-Net, SuperSport and DStv to the services of its pay-tv operations in other countries as well as StudioCanal. They made it evident since this transaction came forward that they're putting their focus towards content.
Shareholders being investors in the combined entity I doubt they'd object to a merger as Canal+ is putting 45% of their investment towards MultiChoice and also shareholders are making money which is the whole point to all this.
Die Agentskap 2nd December 12PM
No comments:
Post a Comment