French media giant Canal+ has secured approval from South Africa’s Competition Tribunal for its proposed acquisition of MultiChoice Group, the parent company of DSTV and GOTV.
Gatekeepers News reports that the deal, valued at approximately $2.9 billion, clears the final regulatory hurdle and paves the way for Canal+ to acquire Africa’s largest pay-TV group.
According to the terms of the deal, Canal+ 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. These commitments also guarantee sustained investment in local general entertainment and sports programming.
Canal+ CEO Maxime Saada expressed excitement about the potential the transaction unlocks for all stakeholders, stating, “The approval by South Africa’s Competition Tribunal marks the final stage in the South African competition process.”
Saada noted that the combined group will benefit from enhanced scale, greater exposure to high-growth markets, and the ability to deliver meaningful synergies.
MultiChoice CEO Calvo Mawela described the decision as a “significant milestone,” emphasizing the strategic alignment of the companies and their shared commitment to community impact. The companies are expected to complete the transaction before October 8.
As part of the agreement, MultiChoice’s South African broadcasting licensee will be separated into an independent entity, majority-owned and controlled by HDPs, to comply with local ownership regulations.
This move positions Canal+ to deliver greater scale, tap into high-growth markets, and realize cost and other synergies across operations.
