South Africa’s competition authority recently approved France’s Canal+’s acquisition of MultiChoice, Africa’s largest pay-TV company. This merger, which has been under negotiation for nearly a year, is set to expand Canal+’s presence across Africa. The French media giant, which already owns 45% of MultiChoice’s shares, has offered to buy the remaining shares for 125 rand (approximately 6.16 euros) per share.
Canal+ operates in 25 African countries through 16 subsidiaries and boasts eight million subscribers. Meanwhile, MultiChoice operates in 50 countries across Sub-Saharan Africa and has a subscriber base of 19.3 million. The company also owns SuperSport, Africa’s leading sports broadcaster, and the popular DStv satellite service.
Canal+ aims to complete the acquisition by early October, but the final decision lies with the Competition Tribunal. The commission’s merger approval is contingent on several public-interest conditions, including investments worth 26 billion rand over three years. These provisions include increasing the shareholding of individuals historically disadvantaged during South Africa’s apartheid era and ensuring that the MultiChoice headquarters remains in South Africa.
This merger marks a significant step in Canal+’s goal to become a global media powerhouse, with a strong focus on Africa, as stated by Maxime Saada, the CEO of Canal+. The final go-ahead from the Competition Tribunal will determine the future of one of Africa’s most influential media entities.
