MultiChoice to Terminate JSE Listing Following Canal+ Takeover

In a move set to reshape Africa’s media landscape, French media giant Canal+ has officially completed its acquisition of MultiChoice Group (MCG), South Africa’s largest pay-TV operator. The takeover, finalized on 10 October, grants Canal+ 94.4% ownership of MultiChoice’s issued ordinary shares, effectively bringing the company under its full control.

This acquisition marks the largest transaction in Canal+’s history, underscoring the company’s ambitions to consolidate its operations across Africa and expand its global reach. With shareholder acceptance surpassing 90%, Canal+ will now acquire the remaining shares as per the terms of the agreement, solidifying MultiChoice as a wholly-owned subsidiary.

As a direct consequence, MultiChoice is set to delist from the Johannesburg Stock Exchange (JSE), with notice of trading suspension expected imminently. While this ends MultiChoice’s tenure as a JSE-listed entity, Canal+ has committed to maintaining investor access in South Africa. The group plans to launch a secondary inward listing on the JSE through a fast-track procedure, subject to regulatory approval.

“A secondary listing ensures South African investors can continue to participate in our growth story and maintain market liquidity,” Canal+ said. “It will broaden the investor base, reinforce our long-term commitment to South Africa and Africa’s creative economy, and support ongoing institutional exposure to the media sector.”

Maxime Saada, CEO of Canal+, highlighted the strategic importance of local engagement: “Providing South African investors the opportunity to invest in Canal+ is critical, given the pivotal role we now play across the continent’s media and entertainment ecosystem.”

The combined group now serves over 40 million subscribers across nearly 70 countries in Africa, Europe, and Asia, supported by roughly 17,000 employees. Canal+ has already begun integrating MultiChoice’s operations, aligning content, technology, and infrastructure to strengthen its market position.

Industry analysts suggest this acquisition could redefine the competitive landscape for streaming and pay-TV services across Africa, as Canal+ leverages MultiChoice’s local footprint and subscriber base while expanding its international scale. For investors and stakeholders, the move signals both growth potential and an opportunity to engage with one of the continent’s most influential media conglomerates.