Nigeria, July 25 -- French media conglomerate Canal+ has secured approval from South Africa's Competition Tribunal to acquire MultiChoice Group, the parent company of pay TV services DSTV and GOTV.

The $3 billion deal is subject to agreed conditions, the regulator stated on Wednesday.

The transaction could speed up a consolidation process that might position the pay TV provider as a formidable competitor to global streaming powerhouses such as Netflix, and will enable Canal+ to gain more inroads into Africa.

""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," said Max...