French media giant Canal+ has secured approval from South Africa’s Competition Tribunal for its acquisition of MultiChoice Group, removing the final regulatory roadblock to a takeover of Africa’s largest pay-TV operator.
The approval follows a mandatory cash offer by Canal+ to acquire all outstanding MultiChoice shares it doesn’t already own, in a deal that could reshape Africa’s media landscape.
Quick Facts
- Offer: ZAR 125 ($7.11) per share
- Deadline: Deal expected to close by October 8
- Condition: Separation of South African broadcasting licensee into HDP-majority-owned entity
Why it matters
This acquisition is one of the most significant in African media history, enabling Canal+ to scale across the continent’s high-growth markets while committing to local content investment and ownership transformation in South Africa.
Zoom in
As part of the conditions tied to the approval, Canal+ and MultiChoice have committed to:
- Increasing historically disadvantaged persons (HDPs) participation in South Africa’s audiovisual sector
- Supporting small, micro, and medium enterprises (SMMEs)
- Continuing investment in local general entertainment and sports programming
The companies will also implement a structural separation of MultiChoice’s South African broadcasting licensee, which will become a HDP-majority-owned and independently run entity — a nod to local media ownership laws.
What they’re saying:
- Maxime Saada, Canal+ CEO: The tribunal’s greenlight “marks the final stage in the South African competition process,” allowing both firms to move forward and realize “greater scale and operational synergies.”
- Calvo Mawela, MultiChoice CEO: The decision is a “significant milestone,” aligning with the companies’ shared vision and commitment to community and content impact.
What’s next
The companies are now working to finalize the transaction before October 8, following a previous deadline extension.
The big picture
The deal is part of Canal+’s broader M&A push post-Vivendi spin-off, reinforcing its ambitions to dominate the African media landscape and rival global streaming players.
Source: Hollywood Reporter
