The South Africa’s Competition Tribunal has approved Canal+’s $2 billion takeover offer for TV broadcaster MultiChoice, subject to agreed conditions.
Maxime Saada, CEO of CANAL+, said : “The approval by South Africa’s Competition Tribunal marks the final stage in the South African competition process and clears the way for us to conclude the transaction in line with our previously communicated timeline. It is a hugely positive step forward in our journey to bring together two iconic media and entertainment companies and create a true champion for Africa. I’m excited about the potential this transaction unlocks for all stakeholders, notably South African consumers, creative businesses and the nation’s sporting ecosystem. The combined Group will benefit from enhanced scale, greater exposure to high-growth markets and the ability to deliver meaningful synergies.”
Calvo Mawela, CEO of MultiChoice Group, said: “The announcement marks a significant milestone and is a major step forward for both companies. It reflects the strength of our strategic vision and our ongoing commitment to continue uplifting the communities where we operate. We look forward to executing the remaining processes required to complete the transaction and to start building something extraordinary : a global media and entertainment company with Africa at its heart.”
Canal+ is present in 25 African countries and has eight million subscribers. MultiChoice — which includes sports broadcaster SuperSport and the DStv satellite service — operates in 50 countries across sub-Saharan Africa and has 14.5 million subscribers.
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