The South African Competition Tribunal has approved the proposed $3 billion mandatory takeover of broadcaster Multichoice by France’s Canal+.
The approval includes conditions, such as the implementation of a previously disclosed structure that maintains compliance with South African broadcasting ownership laws. It will also maintain funding for local South African general entertainment and sports content, said Canal+.
The deal received a positive recommendation from South Africa’s Competition Commission in May.
According to the French company, the two sides expect to complete the deal before the previously announced long-stop date of October 8th, 2025.
Speaking about the approval by the Tribunal, Maxime Saada, CEO of Canal+, said: “The approval 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. It is a hugely positive step forward in our journey to bring together two iconic media and entertainment companies and create a true champion for Africa. I’m excited about the potential this transaction unlocks for all stakeholders, notably South African consumers, creative businesses and the nation’s sporting ecosystem. The combined Group will benefit from enhanced scale, greater exposure to high-growth markets and the ability to deliver meaningful synergies.”
Calvo Mawela, CEO of MultiChoice Group, added: “The announcement marks a significant milestone and is a major step forward for both companies. It reflects the strength of our strategic vision and our ongoing commitment to continue uplifting the communities where we operate. We look forward to executing the remaining processes required to complete the transaction and to start building something extraordinary: a global media and entertainment company with Africa at its heart.”
French pay-TV broadcaster Canal+ first announced its intention to acquire Multichoice in February 2024, stating that the acquisition would “be an important next step for MultiChoice to realise its full potential.”
