MultiChoice has received the final approval to transfer Orbicom’s electronic communications and radio frequency spectrum licences to Canal+. The approval by the Independent Communications Authority of South Africa (Icasa) is part of the takeover process by the French media giant.
According to reports, the approval was granted on 28 August 2025 and made public by the authority on 18 September 2025. Orbicom is MultiChoice’s signal distributor.
Icasa had disclosed that Orbicom submitted applications on 28 November 2024 to transfer control of its Electronic Communications Service (I-ECS), Individual Electronic Communications Network Services (I-ECNS), and Radio Frequency Spectrum licences to Canal+.
Explicitly, the I-ECNS licence authorises holders to roll out and manage electronic communications networks across its coverage. The I-ECS licence lets holders provide services to customers using their own or somebody else’s network infrastructure.
Additionally, the Radio Frequency Spectrum licence allows companies to use a specific radio frequency band within a defined geographic area.
Icasa noted that MultiChoice’s request was screened and subjected to consumers’ interests and the promotion of competition in the ICT sector. Also, the authority considered the case of equity ownership by Historically Disadvantaged Persons (HDPs). In the rule of ownership, HDPs will hold 40% of Groupe Canal+’s shareholding.
To hear opinions from concerned stakeholders, Icasa published its application, requesting comments in March 2025.
The approval is a significant move towards the final R55 billion (approximately $3.17 billion) takeover of MultiChoice by Canal+. While the French media owns 45.2% stake in the pay-TV company (as at last publication in May 2024), the move to gain full control has faced various regulatory hurdles, which have been almost cleared.
Part of the hurdles includes getting approvals from bodies like the Financial Surveillance Department, the Johannesburg Stock Exchange, the TRP, and Icasa. The parties were also on course, as required by the Electronic Communications Act (ECA), to limit Canal+ voting rights to 20%.
Another part of the deal is meeting the 30% Broad-based Black Economic Empowerment (BBBEE) rules set out by Icasa. This has been a long-standing rule that stipulates that licensees must be 30% owned by historically disadvantaged groups.
To meet the rule, MultiChoice announced in July that it would carve out its domestic unit into a new entity, LicenceCo. This independent company will be majority-owned by HDPs and workers, ensuring compliance with local laws. It will also declare an extraordinary dividend to its HDP shareholders of R1.375 billion.
Also Read: MultiChoice begins restructuring for Canal+ $3.17 billion takeover.
MultiChoice – Canal+ merger: final preparations
With every inch, the acquisition poised to create a powerhouse in Africa’s pay-TV and streaming sector is moving closer to completion.
In preparation for the takeover, MultiChoice Group will be obtaining a new range of investors in order to comply with South African legislation. The rule prevents foreign entities from holding more than 20% of the voting rights in locally licensed broadcasters.
In the new structure, MultiChoice, LicenceCo (created to hold the Group’s broadcasting licence), Phuthuma Nathi Investments, 13th Ave Investments, Identity Partners, Itai Consortium (IPIC), and the trustees of the MultiChoice Workers Trust have entered into transaction agreements.
Earlier this week, MultiChoice reiterated to stakeholders that all the transactions necessary to restructure its South Africa Holdings are in place. This was one of the key conditions laid out by the Competition Tribunal for the French media group to proceed with its mandatory offer.
The deal, which has been ongoing since early 2024, is a strategic move by Canal+ to expand its footprint in English-speaking African markets. In addition, the deal is a saving grace for MultiChoice with capital provision to bolster local content and innovation.
Canal+ will leverage the South African-based pay-TV’s existing portfolio, which includes its linear channels and the streaming platform Showmax. The deal further places MultiChoice’s infrastructure on the ground to compete with global streaming giants like Netflix and Amazon Prime.
