Regulators Pose Hurdle in Canal+'s MultiChoice Takeover

French broadcasting group Canal+ has delayed its acquisition of South African pay TV leader MultiChoice by six months, as regulatory authorities require more time for clearance. The delay is coupled with Canal+ forecasting a decline in its annual revenue.

French broadcasting giant Canal+ has announced a six-month delay in its planned acquisition of South Africa's leading pay TV company, MultiChoice. The hold-up is due to ongoing regulatory processes that need more time for clearance.

The announcement came as Canal+ projected a drop in its annual revenue, compounding concerns over the delay. The company revealed that the merger control clearance from South Africa's competition authorities remains pending.

Despite the setback, Canal+ remains optimistic, stating its commitment to navigating the regulatory landscape for a successful takeover. The company is working closely with the relevant authorities to ensure compliance with all necessary guidelines.