The Takeover Regulation Panel (TRP) is urging shareholders to exercise caution in responding and/or reacting to the various statements from both Multichoice and Groupe Canal+.
Yesterday (5 February), Multichoice released SENS statements about its rejection of a buyout offer from Groupe Canal+, while simultaneously pointing to the fact that the French entertainment group has bought up more than 35% of the Multichoice shares (Multichoice rejects Canal+ offer, notes share purchase).
Multichoice stated that it had informed the TRP about the share purchases.
The TRP has responded to these announcements, stating that it is aware of the various communications – none of which has been sanctioned or approved by the panel.
“At the time of releasing this statement (this morning, 6 February), the panel is still engaging with Multichoice and Canal+ to provide guidance and guidelines on how the matter is to be handled and addressed,” the TRC states.
“The panel confirms that it is taking this matter seriously and is currently investigating various aspects of the current status of this matter on an urgent basis.”