French media group Canal+ has received final approval from South Africa’s competition tribunal to proceed with its acquisition of MultiChoice Group, Africa’s largest pay-TV operator. The deal includes platforms like DSTV and GOTV.
Canal+ has offered 125 rand per share to buy out all remaining ordinary shares of MultiChoice that it does not already own. The deal also includes public interest conditions to promote the involvement of historically disadvantaged South Africans and support local content production.
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As part of the arrangement, MultiChoice’s South African broadcasting licensee will become an independent, HDP-majority-owned entity in line with local ownership laws. The companies plan to finalise the transaction by 8th October.
Canal+ CEO Maxime Saada described the ruling as the “final stage” of the competition process, while MultiChoice’s CEO Calvo Mawela hailed it as a major milestone for the future of African broadcasting.
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