If final approval is granted, the deal would be transformative for Canal+ as part of its expansion in Africa, particularly in English-speaking regions.

Canal+, which spun off from parent company Vivendi in December, made a firm offer last year of $6.99 in cash per MultiChoice share that it does not own, or about $1.96 billion.

The Commission said the transaction was unlikely to substantially lessen or prevent competition but recommended approval subject to a number of conditions, given the role played by MultiChoice in SA's entertainment industry, and to address public interest concerns raised by various stakeholders.

By 11h00 CAT, MultiChoice's shares were up 5.33%.
"This is a major step forward in our ambition to create a global media and entertainment company with Africa at its heart," Maxime Saada, Chief Executive Officer of Canal+, said.

The total value of all the public interest commitments by the merger parties was projected to be about $1.45 billion
over the next three years, the Commission said.

--Reuters--