South Africa's Competition Tribunal has approved Canal+'s 35 billion rand ($2 billion) takeover offer for TV broadcaster MultiChoice , subject to agreed conditions, the companies said on Wednesday.

Canal +, the pay TV group behind "Paddington," has received anti-trust approval to finalize its takeover of South Africa's MultiChoice Group.

Under the terms of the deal, Canal+ has made a mandatory cash offer of ZAR 125 ($7.11) per share to acquire all outstanding ordinary shares of MultiChoice not already owned by the French media group.

Calvo Mawela, MultiChoice Group CEO said the anti-trust approval “marks a significant milestone and is a major step forward for both companies.” “It reflects the strength of our strategic ...