Canal+, a French media giant, has received approval from South Africa’s Competition Tribunal for its proposed acquisition of MultiChoice Group, the parent company of DSTV and GOTV.
This development cleared the final regulatory hurdle, paving the way for the acquisition to proceed.
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 commitments to enhance 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 will implement a structural arrangement, which includes the separation of MultiChoice’s South African broadcasting licensee, MultiChoice, into an independent, HDP-majority-owned entity.
The plan would help to address local ownership regulations under South Africa’s Electronic Communications Act.
The Chief Executive Officer (CEO) of Canal+, Maxime Saada described the tribunal’s approval as “the final stage in the South African competition process,” enabling the companies to move forward on the transaction.
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.
