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MultiChoice logo is displayed outside the company’s building in Cape Town, South Africa
The Competition Commission South Africa has recommended that the Competition Tribunal approve the proposed transaction whereby a French company intends to acquire MultiChoice Group with conditions.
French company, Canal+, is a leading international integrated media and broadcasting company.
Canal + made a bid to acquire MultiChoice Group early last year and if the bid is successful, they would need to invest close to R32 billion to acquire the remaining shares of MultiChoice Group.
This recommendation follows the commission’s investigation of the merger notification received September last year.
It has approximately 26.4-million subscribers of which 17 million are outside of France.
The company currently holds about 36.6% shares in MultiChoice, with this agreement in place, it means it will assume at least 90% shares.
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