French broadcaster Canal+ has confirmed plans to list on South Africa’s JSE, following its takeover of MultiChoice valued at about $3 billion. The move underscores Canal+’s ambition to deepen its footprint in Africa and bring local investors into its enlarged media portfolio.
Canal+ recently completed a mandatory offer for MultiChoice, bringing its total stake to approximately 94.4% and is now moving to acquire all remaining shares. As part of the process, MultiChoice will be elisted from the JSE, paving the way for Canal+ to initiate a econdary inward listing on the same exchange. This listing will allow South African investors to directly hold shares in the newly merged entity.
While Canal+ maintains its rimary listing in London, the Johannesburg listing is intended as a complement and not a replacement. The expected timeline anticipates that trading in Canal+ shares on the JSE could commence within nine months, targeting a debut before September 2026.
In acquiring MultiChoice, Canal+ gains access to MultiChoice’s extensive African subscriber base and infrastructure. The combined group is now estimated to serve nearly 40 subscribers across close to 70 countries. The integration is underway, with detailed operational plans expected in the first quarter of 2026.
This strategy also signals confidence in South Africa’s capital markets. By retaining local investor access and liquidity, Canal+ aims to cement its long‑term commitment to the South African and broader African media landscape.
