French media giant Canal+ has secured final approval from South Africa’s Competition Tribunal to acquire pay-TV heavyweight MultiChoice.

Both entities released statements on Wednesday, saying they are working to finalise the transaction before the deadline date of October 8, 2025.

Canal+ triggered the deal earlier this year after surpassing the 35% ownership threshold that mandates a buyout under South African company law.

The French firm offered R125 per share, valuing MultiChoice at over R55 billion.

The deal required a complex set of regulatory approvals from the Competition Tribunal, Johannesburg Stock Exchange (JSE), Takeover Regulation Panel, Independent Communications Authority of South Africa (Icasa), and the Financial Surveillance Department.

With the Competition Tribunal’s green light, the merger clears its most critical regulatory hurdle. Canal+ CEO Maxime Saada called it “a hugely positive step forward in our journey to bring together two iconic media and entertainment companies and create a true champion for Africa.”

The acquisition will cost Canal+ more than R30 billion in cash.

While waiting for regulatory clearance, the French company continued to buy shares on the open market and, as of May 2024, held a 45.2% stake in MultiChoice.

To win approval, the companies agreed to a robust public interest package aimed at promoting inclusivity in South Africa’s audio-visual sector.

This includes commitments to support small and historically disadvantaged businesses, as well as ongoing investment in local entertainment and sports content.

“The package will help provide a strong foundation for future success for local content creators,” the companies said in the statement.

Calvo Mawela, CEO of MultiChoice Group, echoed this vision, calling the merger “a significant milestone” and “a major step forward” in building a global media powerhouse with Africa at its core.