Canal+ Raises MultiChoice Bid, Valuing Target at $2.9 Bln

By Nina Kienle

Vivendi’s Canal+ and South Africa’s MultiChoice Group said the French company raised its bid for MultiChoice shares it doesn’t already own, valuing the target as a whole at 55.55 billion South African rand ($2.92 billion).

Canal+–which raised its ownership in MultiChoice to 35.01% through recent purchases–is offering ZAR125…