French media giant Canal+ has confirmed plans to pursue a secondary inward listing on the Johannesburg Stock Exchange (JSE) following its full acquisition of South African pay-TV leader MultiChoice Group Ltd., a deal valued at approximately $3 billion.
The move signals the company’s strategic commitment to Africa, where its expanded portfolio now gives it one of the largest entertainment networks in the world.
Canal+ said in a statement that the listing aligns with its long-term plan to “deepen its footprint across Africa” by integrating MultiChoice’s extensive subscriber base and market expertise into its global operations.
The process will begin with the delisting of MultiChoice from the JSE, after which Canal+ will list by introduction, allowing South African investors to hold shares directly in the enlarged group.
With the takeover, Canal+ gains direct access to Africa’s largest film and television market, along with a robust distribution network spanning more than 50 countries.
The merger creates a combined entity with nearly 40 million subscribers, giving the company the scale and financial strength to challenge global streaming giants such as Netflix and Amazon Prime Video.
Industry analysts say the listing underscores Canal+’s “confidence in South Africa’s capital markets” and its long-term commitment to the continent’s creative and media economy.
By enabling local investors to participate in its growth, Canal+ hopes to foster regional goodwill and strengthen its position as a pan-African entertainment leader.
The transaction marks a strategic milestone for Vivendi SE, Canal+’s parent company, which listed the broadcaster in London last December to accelerate its international growth. The JSE inward listing complements that effort by anchoring Canal+’s African operations within one of the continent’s most active financial hubs.
Canal+ plans to invest heavily in local content, sports broadcasting, and digital innovation to expand its influence across traditional pay-TV and streaming markets.
The group also intends to leverage MultiChoice’s deep understanding of African consumer trends and regulatory frameworks to strengthen its operations in emerging markets.
Paris-based Canal+, led by French billionaire Vincent Bolloré, initially offered 105 rand per share in cash for MultiChoice, a 40% premium to its recent closing price. Bolloré’s firm already held a 31.7% stake before the acquisition, which analysts interpret as a strong vote of confidence in Africa’s entertainment potential.
With a young, digitally connected population and rising demand for homegrown stories, Canal+’s expansion through MultiChoice could usher in a new era for African storytelling on the global stage. The merger not only consolidates Canal+’s dominance in the continent’s media landscape but also positions it as a key driver of Africa’s digital and creative economy.
