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(AFRICAN EXAMINER) - Pan-African Television broadcaster MultiChoice Group has disclosed that its subsidiaries have reached a settlement with Nigerian tax authorities and have agreed to pay a total tax of about $37.3 million. According to a report by Reuters, the broadcaster said, “The total tax amount of $35.4 billion which MultiChoice Nigeria and MultiChoice Africa
After years of dispute, MultiChoice Group (MCGJ.J), Africa’s largest pay TV conglomerate and the Nigeria's Federal Inland Revenue Service (FIRS) have settled
Canal+ is planning to acquire all the remaining shares at MultiChoice. The French company holds a 31% stake in MultiChoice. Canal+ plans to make the acquisition at 105 rand in cash per share, which is around 40% premium.
After MultiChoice ended potential buyout talks with its top shareholder Canal Plus on February 5.
A French company, Canal+, has offered to acquire South African pay-TV giant MultiChoice for around R31.7bn ($1.7bn).