Caesars Entertainment misses Q2 earnings expectations, shares edge lower
ISSY-LES-MOULINEAUX - Canal+ SA (LSE:CAN) and MultiChoice (JO:MCGJ) Group Limited have announced that the South African Competition Commission has recommended approval of their proposed transaction, subject to certain conditions. This recommendation is a significant step towards Canal+’s mandatory offer to acquire all issued ordinary shares of MultiChoice not already owned by Canal+, for ZAR125.00 per share in cash.
The proposed transaction, which was first detailed in a combined circular on June 4, 2024, is subject to approval by the South African Competition Tribunal. The conditions set by the Competition Commission include a commitment package to support Historically Disadvantaged Persons (HDPs) and Small, Micro and Medium Enterprises (SMMEs) in the South African audio-visual industry. These commitments are designed to ensure continued investment in local general entertainment and sports content, providing a stable platform for local content creators.
Following an extension to the Long Stop Date announced on March 4, 2025, to October 8, 2025, the transaction’s important dates and times section in the Combined Circular has been updated accordingly for indicative purposes.
Maxime Saada, CEO of Canal+, expressed enthusiasm about the Commission’s recommendation, viewing it as a crucial step in their goal to establish a global media and entertainment company with Africa as a core market. Saada emphasized Canal+’s commitment to investing in local content and supporting South Africa’s creative and sports industries.
Calvo Mawela, CEO of MultiChoice Group, also welcomed the recommendation, highlighting the public interest commitments as a key factor in the transaction’s progression. Mawela anticipates the deal will benefit shareholders, viewers, and related industries, while MultiChoice continues to work with regulatory authorities to conclude the process.
This development is based on a press release statement and awaits the final decision of the South African Competition Tribunal. The outcome will determine whether the proposed transaction will proceed as planned.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.