France’s Canal+ has moved a step closer to taking over African pay-TV giant MultiChoice.
The South African Competition Tribunal has approved the deal, subject to “agreed conditions,” which include maintaining local funding for South African general entertainment and sports content and providing local creators with opportunities.
The two companies said in a statement via the Johannesburg Stock Exchange, where Multichoice is listed, that they are on track to complete the deal before 8 October 2025.
Canal+, which already owns over a third of MultiChoice, is due to pay 35bn rand ($2bn) to acquire the business.
Maxime Saada, CEO of CANAL+, said: “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. 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.”
Calvo Mawela, CEO of MultiChoice Group, said: “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.”
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