Canal+ overcomes final barrier to acquire South Africa’s MultiChoice
Canal+ Secures Approval to Take Over Africa’s Pay TV Giant
French media conglomerate Canal+ announced that it has obtained final regulatory clearance to acquire the majority stake in South Africa’s largest pay‑TV company MultiChoice. The move will position Canal+ as the leading pay‑TV provider across the continent.
Regulatory Clearance
The South African Competition Tribunal granted Canal+ approval to purchase the shares it does not already own, covering approximately 55 percent of MultiChoice. The decision removes any remaining obstacles for Canal+ to complete the transaction by October 8, the deadline set by the French group.
Strategic Vision
- Channel leader Maxime Saada expressed enthusiasm about the synergy potential, noting that the combined group will enjoy “enhanced scale” and “greater exposure to high‑growth markets.”
- Saada highlighted the opportunity to merge Canal+’s French‑language offerings with MultiChoice’s English and Portuguese content, creating a “true champion for Africa.”
- Canal+ aims to scale its subscriber base to between 50 and 100 million in the coming years, up from the current 27 million.
Company Footprint
Canal+ is active in 25 African nations through 16 subsidiaries, boasting 8 million subscribers. MultiChoice operates in 50 sub‑Saharan African countries, serving 14.5 million users, and is home to Africa’s premier sports broadcaster SuperSport and the satellite service DStv.
Financial Details
The mandatory share offer stands at 125 rand (6 euros) per share, valuing MultiChoice at $3.0 billion (2.6 billion euros). Approval was accompanied by public‑interest conditions amounting to about 26 billion rand over three years and the requirement to keep MultiChoice’s headquarters in South Africa.
Market Impact
Shares in Canal+ rose 1.3 percent during London trading and have surged 12.8 percent this year, reflecting investor confidence in the expanded African operations.
