South 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 competition in any market.” However, it imposed conditions for the transaction, including a three-year freeze on MultiChoice job cuts and ensuring the broadcaster maintains its headquarters in South Africa.
The commission’s approval brings Canal+ — which broadcasts in French-speaking African countries — closer to its ambition of expanding to 50 countries across Africa and serving more than 30 million customers.
