Canal+’s R35bn MultiChoice takeover clears all conditions, set for final approval

Stephen Grootes speaks to Maxime Saada, Canal+ CEO, about the now unconditional $2 billion takeover of MultiChoice.

Listen to the interview in the audio player below.

Canal+'s R35 billion takeover of Multichoice is another step closer to be confirmed.

The two companies on Monday announced that all conditions to Canal+'s takeover offer for the South African TV broadcaster have been fulfilled, making the deal unconditional.  

Calvo Mawela is no longer the CEO of Multichoice. He steps into the role of Canal+'s Africa operations, while David Mignot takes up the role of Multichoice CEO.

The French media giant now owns 48% of Multichoice, giving it effective control of the South African-based broadcaster.

The merger sees the creation of a media powerhouse with 40 million subscribers across 70 countries and a combined workforce of 17000 people.

Speaking to Stephen Grootes on The Money Show, Maxime Saada, CEO of Canal+ says the aim is now to ensure Multichoice survives the macroeconomic headwinds it's been facing, and cement its place as a media powerhouse in Africa. 

"It's done a very good job of establishing itself as the clear television, audio-visual leader, media leader in continental Africa. So we're very thankful and appreciative of what has been done, and we think the assets are numerous in terms of content production, in terms of sports relationships, in terms of brands with sports..."

- Maxime Saada, CEO - Canal+

"...we're going to combine these forces with those of Canal+, to really bring the best of both worlds, and the best available content on the planet  to African consumers."

- Maxime Saada, CEO - Canal+

"We are really set to establish this new company as the absolute best value proposition, with the best user experience to all African consumers. And we will join forces and bring the best content from both companies to all consumers..."

- Maxime Saada, CEO - Canal+

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