By Olayinka Abimbade

The Multichoice group (MCG) has crossed the threshold, with the Canal+ merger becoming unconditional and the French media giant is now effectively in control of the company.

Canal+ and MCG announced that, as of Friday, 19 September 2025, all the suspensive conditions to the takeover have been fulfilled or waived, and as a result, the Canal+ offer has become unconditional.

“Subject to the Takeover Regulation Panel issuing a compliance certificate in respect of the Canal+ offer in terms of section 121(b) of the Companies Act, which is expected imminently, the settlement process in connection with the offer will now commence,” the group said.

Notably, this means that Canal+ is already in control of the group, which was founded as M-Net’s digital satellite division in 1994.

As of the close of business on 19 September 2025, Canal+ directly owned 46.0% of the shares of MCG, excluding treasury shares.

In addition, acceptances in respect of a further 2.2% of MCG shares have already been tendered to Canal+ in terms of the Canal+ offer prior to the publication of the Finalisation Announcement.“Canal+ is therefore in effective control of MCG,” Multichoice said.

“All the shares which are still to be tendered into the Canal+ offer, which is now unconditional, will further increase Canal+’s shareholding in MCG.

”The acquisition of MCG by Canal+ marks the largest transaction ever undertaken by Canal+, cementing the combined group’s position as a global media and entertainment company.

The combined Group will serve more than 40 million subscribers across close to 70 countries in Africa, Europe and Asia, supported by a workforce of approximately 17,000 employees.

For South Africa, Canal+ and the company have committed to a robust package of public interest measures.

These include supporting firms controlled by Historically Disadvantaged Persons (HDPs) and Small, Micro and Medium Enterprises (SMMEs) in the South African audio-visual sector, as well as maintaining funding for local general entertainment and sports content produced by South African creators.