The companies are not on track to get the deal approved by South Africa's competition authority by April 8.
The MultiChoice Group and Canal+ have issued a joint statement informing stakeholders that it will not obtain merger control clearance from competition authorities by its original long stop date of 8 April 2025.
As a result, the companies have extended the deadline to 8 September 2025. The long stop date is the day by which all the conditions for implementing the merger must be fulfilled or waived.
“The process of obtaining merger control clearance from the South African competition authorities and the relevant regulatory processes are ongoing,”
they said.
The companies agree that the extension provides ample time to fulfil the conditions of the transaction. “Save for the extension of the long stop date, the terms of the offer remain unchanged,” they added.
Canal+ CEO Maxime Saada said the extension reflects the companies’ recognition of the work and positive progress achieved by all parties and stakeholders working towards securing the necessary clearances.
MultiChoice Group CEO Calvo Mawela echoed Saada’s statement.
Multichoice had earlier presented a plan for possible changes in the company's structure after the merger with Canal+, taking into account the interests of South African citizens affected by the effects of apartheid.
For the transaction to proceed, the companies must secure approvals from various entities, including the Financial Surveillance Department, the JSE, the Takeover Regulation Panel, the Competition Tribunal, and South Africa’s communications regulator.
Source: Mybroadband
