Canal+ has secured approval from South Africa’s competition tribunal for its proposed acquisition of MultiChoice Group.
The development clears the final regulatory hurdle in the deal, paving the way for the French media giant to acquire Africa’s largest pay-TV group, which includes DSTV and GOTV.
Under the terms of the deal, Reuters reported that Canal+ has made a mandatory cash offer of ZAR 125 ($7.11) per share to acquire all outstanding ordinary shares of MultiChoice not already owned by the French media group.
The approved conditions include public interest commitments aimed at enhancing the participation of historically disadvantaged persons (HDPs) and small, micro and medium enterprises (SMMEs) in South Africa’s audiovisual sector. The commitments also guarantee sustained investment in local general entertainment and sports programming.
Canal+ and MultiChoice are now set to implement a structural arrangement, unveiled in February, which addresses local ownership regulations under South Africa’s Electronic Communications Act. The plan includes the separation of MultiChoice’s South African broadcasting licensee, MultiChoice, into an independent, HDP-majority-owned entity.
Canal+ CEO Maxime Saada said the tribunal’s approval marks “the final stage in the South African competition process,” enabling the companies to move forward on the transaction.
Saada noted the deal positions the combined group to deliver greater scale, tap into high-growth markets, and realise cost and other synergies across operations.
Canal+ previously said after its spin-off from French media and telecom conglomerate Vivendi that it would take an “active M&A strategy,” The Hollywood Reporter said in a separate report.
MultiChoice CEO Calvo Mawela described the decision as a “significant milestone,” emphasising the strategic alignment of the companies and their shared commitment to community impact.
The companies are expected to complete the transaction before October 8.