Canal+ takes major step towards acquiring South African group MultiChoice

Will Canal+ complete its largest acquisition in history? In its battle to buy MultiChoice, the South African pay-TV leader, the French audiovisual group took a significant step forward on Wednesday, May 21. The South African Competition Authority recommended that the Competition Tribunal "approve the proposed transaction" by the Canal+ group, owned by billionaire Vincent Bolloré, "subject to certain conditions." The parties have notably committed to not making any layoffs for three years and to maintaining funding for local entertainment and sports content, according to the South African Competition Commission's press release .

Canal +, which currently holds 45.2% of MultiChoice's capital, launched a public takeover bid in March 2024 for the entire share capital of the company, at a price of 125 rand per share (around 6 euros), after an initial offer of 105 rand per share, which was rejected in February. This values ​​the remaining 54.8% at 35 billion rand (1.7 billion euros) and the entire share capital of the African giant at 55 billion rand (2.7 billion euros).

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