French media giant Canal+ has announced plans to pursue a secondary inward listing on the Johannesburg Stock Exchange (JSE) following its successful acquisition of South African pay-TV leader MultiChoice. The $2 billion deal, completed in September 2025, gives Canal+ control of 94.39 percent of MultiChoice’s shares, as reported by Reuters. The company will maintain its primary listing on the London Stock Exchange while expanding investor access in South Africa.
The move follows the acceptance of Canal+’s offer by over 90 percent of MultiChoice shareholders, paving the way for the delisting of MultiChoice from the JSE and a subsequent squeeze-out of remaining minority shareholders. Canal+ said the decision to pursue a secondary listing aims to preserve market liquidity for South African investors and ensure continued participation in the company’s growth, Ecofin Agency noted.
Canal+ has set a timeline of nine months to complete the Johannesburg listing, with a trading debut expected before September 2026. The French broadcaster stated that the listing will reinforce its long-term commitment to the African market, particularly as it seeks to integrate MultiChoice’s operations and enhance regional content production and distribution, Reuters reported.
Industry analysts view the development as a strategic milestone that deepens Canal+’s presence across Africa’s fast-growing entertainment sector. The acquisition and forthcoming listing are expected to strengthen the company’s position against global streaming competitors while giving African investors access to one of Europe’s leading media powerhouses, Ecofin Agency highlighted.
