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Canal+ ( (GB:CAN) ) has provided an announcement.
Canal+ S.A has successfully completed its mandatory offer to acquire MultiChoice Group Limited, with 92.54% of MultiChoice shareholders accepting the offer. This acquisition will result in Canal+ holding approximately 94.39% of MultiChoice’s total issued ordinary shares, leading to the compulsory acquisition of the remaining shares. The acquisition marks Canal+’s largest transaction, enhancing its position as a global media leader. Canal+ plans to undertake a secondary inward listing on the Johannesburg Stock Exchange, reinforcing its commitment to South Africa and Africa’s creative economy. This move will maintain market liquidity and investor access, supporting the company’s long-term growth strategy.
The most recent analyst rating on (GB:CAN) stock is a Hold with a £245.00 price target. To see the full list of analyst forecasts on Canal+ stock, see the GB:CAN Stock Forecast page.
Spark’s Take on GB:CAN Stock
According to Spark, TipRanks’ AI Analyst, GB:CAN is a Neutral.
The overall score is primarily influenced by Canal+’s financial performance, which shows revenue growth but is hampered by profitability issues. Technical analysis suggests potential stability but warns of overbought conditions. The valuation is a major concern due to the negative P/E ratio, indicating ongoing financial challenges.
To see Spark’s full report on GB:CAN stock, click here.
More about Canal+
Canal+ S.A is a global media and entertainment company, primarily involved in broadcasting and content production. It operates in the media industry, offering television services and content across various platforms. The company has a significant market presence in Europe, Africa, and Asia, serving over 40 million subscribers.
Average Trading Volume: 954,164
Technical Sentiment Signal: Hold
Current Market Cap: £2.24B
Learn more about CAN stock on TipRanks’ Stock Analysis page.