By Ayomide Otitoju
French media conglomerate Canal+ has received approval from South Africa’s Competition Tribunal to proceed with its proposed acquisition of MultiChoice Group, clearing the final regulatory hurdle in the multi-billion rand deal.
The approval allows Canal+ to acquire Africa’s largest pay-TV company, which operates platforms such as DStv and GOtv. Canal+ had earlier submitted a mandatory cash offer of ZAR 125 ($7.11) per share to purchase the remaining ordinary shares of MultiChoice it does not already own.
The Competition Tribunal’s approval includes several public interest commitments aimed at increasing the participation of historically disadvantaged persons (HDPs) and small, micro, and medium enterprises (SMMEs) in South Africa’s audiovisual industry. The agreement also mandates continued investment in local general entertainment and sports programming.
To comply with South Africa’s Electronic Communications Act, the companies will restructure MultiChoice’s local broadcasting unit into a majority HDP-owned independent entity.
“This marks the final stage in the South African competition process,” said Canal+ CEO Maxime Saada, describing the acquisition as a strategic move to increase operational scale, tap into emerging markets, and unlock efficiencies.
MultiChoice CEO Calvo Mawela welcomed the decision as a “significant milestone” that aligns with the companies’ shared vision and community development objectives.
The transaction is expected to be finalized before October 8.
