US Edition
Canal+ Buyout of S.Africa's MultiChoice One Step Closer
- South Africa's competition authority approved the buyout of MultiChoice by Canal+ on Wednesday, moving the deal closer to completion.
- The merger, nearly a year in progress, follows Canal+ having offered to acquire remaining MultiChoice shares at 125 rand per share and holding about 45 percent already.
- Canal+, present in 25 African countries with eight million subscribers, aims to expand its footprint, while MultiChoice operates in 50 sub-Saharan countries with 19.3 million subscribers.
- The commission approved the merger with conditions aimed at serving the public interest, which include commitments valued at approximately 26 billion rand to be fulfilled within a three-year period. These include increasing ownership stakes for historically disadvantaged South Africans, enhancing local content production, and supporting employment initiatives.
- The merger awaits final Competition Tribunal approval, with Canal+ aiming to complete the deal by early October and maintaining MultiChoice's headquarters in South Africa.
44 Articles
44 Articles
France’s Canal+ takes over pan-African broadcaster MultiChoice
The NewsSouth Africa’s Competition Commission approved the acquisition of pan-African broadcaster MultiChoice by France’s Canal+.Owned by the Paris-based entertainment group Vivendi, Canal+ has a 45.2% stake in MultiChoice and made an offer last year to buy the remaining shares it did not own, for 35 billion rand ($1.9 billion).The antitrust regulator said on Wednesday that the acquisition “is unlikely to substantially lessen or prevent competit…
Competition watchdog greenlights Canal+ takeover of MultiChoice, with conditions
The Competition Commission on Wednesday recommended the Competition Tribunal approve France's Canal+ offer to buy shares it does not own in pay TV broadcaster MultiChoice, with conditions.
InsideNoVA.com
Canal+ buyout of S.Africa's MultiChoice one step closer
South Africa's competition authority announced Wednesday it had approved the buyout of Africa's largest pay TV enterprise MultiChoice by France's Canal+, which wants to expand its footprint on the continent.
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