Canal+ took effective control of Africa’s biggest PayTV firm, MultiChoice Group and plans for the combined entity to be among the biggest media firms worldwide, its chief executive said.
“We have a target of 50 to 100 million subscribers in order to be one of the top five global entertainment companies in the world, and maybe the only non-American,” CEO and Group chair Maxime Saada said in an interview.
“There’s a lot of growth potential in Africa and other countries.”
The transaction has met all suspensive conditions, and South Africa’s Takeover Regulation Panel will issue a compliance certificate imminently, meaning the settlement process can start, the companies said in a statement on Monday.
The deal values MultiChoice at about $3 billion.
“The investment strategy is to be as big as possible,” Saada said, adding that the two firms currently spend about €5 billion ($5.9 billion) on content and as much
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