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MultiChoice logo is displayed outside the company’s building in Cape Town, South Africa
The Competition Commission has welcomed the approval of the proposed merger between the French media company CANAL-Plus and MultiChoice.
The Competition Tribunal conditionally approved the over R30 billion deal on Tuesday that could significantly transform the local media landscape.
The merger sets the stage for the combined group to take on the likes of global streaming giant Netflix and forms part of the French-based company’s expansion in Africa.
The Competition Commission’s spokesperson Siyabulela Makunga says the approval follows their recommendation made in May.
“Of note is the commitments by the merger parties to ensure that there will be no retrenchments for the period of three years post the merger, but also supplier development of over three years with focus on expenditure on local content and procurement for SMEs, as well as historically disadvantaged persons,” says Makunga.
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