MultiChoice Group is set to delist from the Johannesburg Stock Exchange (JSE) on December 10 2025, after Canal+ secured control of more than 90% of its shares, effectively completing its takeover of the African pay-TV giant.
The Group, in a notice to shareholders on Friday, announced that trading of its shares on both the JSE and A2X will be suspended from Monday, October 27, 2025.
The official delisting date of December 10 is pending regulatory approvals from the JSE, A2X, and the Financial Surveillance Department of the South African Reserve Bank.
Compulsory 100% shareholding
Canal+, a French media conglomerate and subsidiary of Vivendi, crossed the 90% shareholding threshold, enabling it to invoke Section 124(1) of South Africa’s Companies Act.
- This legal provision allows Canal+ to compulsorily acquire all remaining MultiChoice shares from shareholders who did not accept its offer.
- According to the notice, Canal+ will acquire the remaining shares on the same terms and offer price presented during the takeover bid.
“The Remaining MultiChoice Shareholders are reminded of their rights to apply to a court of competent jurisdiction within 30 business days after receiving the Notice in terms of section 124(2) of the Companies Act (“Section 124(2) Rights”).” The notice read.
If no legal challenges are raised, Canal+ will complete the compulsory acquisition six weeks after the notice date, finalizing MultiChoice’s transition into a wholly owned subsidiary of the French media group.
The delisting will mark the end of MultiChoice’s 6-year presence on the JSE, where it was listed in 2019 following its spin-off from Naspers.
More insights
Earlier this month, Canal+ confirmed plans to pursue a secondary inward listing on the Johannesburg Stock Exchange (JSE) following its full acquisition of MultiChoice Group Ltd.
- According to the company, the move is part of its broader strategy to deepen its footprint across Africa while integrating MultiChoice’s extensive subscriber base and local market expertise into its global operations.
- The company noted that the process would begin with the delisting of MultiChoice from the JSE, after which Canal+ will proceed with a secondary inward listing by introduction.
- This will allow South African investors to hold shares directly in the enlarged Canal+ Group, which now operates one of the largest pay-TV and streaming portfolios in the world, Bloomberg first reported.
In September, MultiChoice Group had announced a sweeping board change and a shift in its financial year-end, following the finalisation of the $3 billion acquisition by French media giant Canal+.
The restructuring came after Canal+ secured effective control of the African pay-TV operator, marking the largest transaction in its history and creating one of the world’s largest media and entertainment companies.
