JOHANNESBURG - The deal between French media giant Canal+ and Multichoice has found that the Canal's offer of R125 per share is fair and reasonable according to Standard Bank.
The bank acted as the independent expert on the sale.
For weeks, the French media giant has been buying up shares in Africa's media giant to ultimately own it.
Standard Bank valued the shares to be between R113 to R129 per share.
Multichoice is currently valued at around R50 billion and its independent board has recommended that should the deal become unconditional, MultiChoice shareholders accept the offer.
The deal is set to be finalised in April next year but it will not be without challenges.
South Africa has laws on foreign ownership of broadcast licences. This means that Canal's voting rights will be capped at 20 percent.