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Black Thursday

Rostrum The ancient narrow pathway had become so bad that they could not find their way to their destination as the three moved in a grey Honda Sport Utility Vehicle (SUV) being piloted by Dayo who was very mindful of the steering. It was on a Thursday. The 35-year-old Misters Dayo, Emeka and Okon were old time friends who reunited just a few days ago at Nsukka in Enugu State having lost contacts about eight years back, or thereabouts, after their graduation from one of the reputable higher citadels of learning in Nigeria situated in the Eastern part of the country, precisely University of Nigeria Nsukka popularly known by its acronym ‘U.N.N’. What occasioned the long-awaited reunion was the convention of their alma-mater’s alumni body themed ‘The homecoming of UNN Alumni’, which usually held once in a blue moon. Though they never studied in the same department, they were conspicuously best of friends during their school days that people within bega...

Canal+ acquires MultiChoice for $3bn

Frank Musa
The French media giant, Canal+ has reportedly acquired MultiChoice Group in a $3 billion deal.

The acquisition gives Canal+ full control of MultiChoice, the parent company of pay-TV services, DStv and GOtv.

Canal+ Chief Executive Officer (CEO), Maxime Saada confirmed the acquisition via a statement issued on July 23, 2025.

However, the transaction is expected to close by October 8, 2025, pending final approval from the Independent Communications Authority of South Africa.

The total acquisition received the green light from South Africa’s Competition Tribunal on Wednesday after a long-anticipated takeover.

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The deal, valued at approximately 55 billion rand, was confirmed following months of regulatory scrutiny and negotiations.<,p> Canal+, which already held a 45.2% stake in MultiChoice, moved to acquire the remaining shares after investing €1.2 billion ($1.3 billion) since 2020.

“The approval by South Africa’s Competition Tribunal marks the final stage in the South African competition process and clears the way for us to conclude the transaction in line with our previously communicated timeline." Saada stated.

“This acquisition represents a significant step in expanding our presence across Africa, particularly in English-speaking markets.” the CEO said.

The MultiChoice Chairman, Elias Masilela also described the deal as a vote of confidence in the company’s growth strategy.

Masilela said: “The offer from Canal+ endorses MultiChoice’s 40-year track record and our compelling continental growth strategy.

“It is gratifying to note that foreign investors share our view that South Africa and Africa remain attractive growth markets.”