Canal+ Group announced on Monday the acquisition of South African television and streaming giant Multichoice, after a process lasting nearly two years, making it the "leader" in the sector in Africa.

"Canal+'s acquisition of MultiChoice marks its largest-ever transaction" and consolidates its position "as a global media and entertainment company," the two companies announced in a joint statement.

Canal+ is the sector leader in French-speaking markets in Africa, and now has in its portfolio the "leader in pay TV in English- and Portuguese-speaking Africa," they emphasize.

With the addition of MultiChoice, the group "now has more than 40 million subscribers in nearly 70 countries across Africa, Europe and Asia, and nearly 17,000 employees," the companies said.

"This acquisition allows us to consolidate our leadership position in Africa, one of the most dynamic pay-TV markets in the world, while continuing to strengthen our position in Europe," said Maxime Saada, President of the Canal+ Group.

The completion of this acquisition had been expected since the South African Competition Tribunal gave the green light at the end of July. The deadline was October 8.

The audiovisual group, owned by billionaire Vincent Bolloré, launched a public takeover bid for Multichoice, the largest pay-TV operator in Africa, based in Johannesburg, in early 2024. It was already the largest shareholder, with a 46% stake.

Canal+ had made an offer of 125 rand (6.07 euros) per share last year, which valued the African giant at around 2.5 billion euros.

For Canal+, a broadcaster, producer and content aggregator, Africa is a strategic area.

Canal+ has been operating in Africa for over thirty years. Present in 20 countries, it is the leading subscription television operator in 19 French-speaking territories.

This market is more buoyant than Europe, where competition is fierce and usage is evolving rapidly. France in particular, the group's historic home, now accounts for only about a third of subscribers.

Canal+ also increased its stakes in Viu, a Hong Kong streaming operator, and in Viaplay, a Scandinavian company in which it is the largest shareholder, in 2024.

Canal+ has been listed on the London Stock Exchange since its split from its parent company Vivendi in December.