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Groupe Canal+ S.A. (Canal+), the media arm of Vivendi and part of French billionaire Vincent Bollore’s Bollore Group, is pressing ahead with plans for a secondary inward listing on the Johannesburg Stock Exchange (JSE) after taking full control of MultiChoice Group Ltd.
The move follows the French media company’s successful takeover of MultiChoice Group, a household name in African broadcasting.
Delisting and new listing
As part of the integration process, Canal+ said it will first delist MultiChoice from the JSE before proceeding with a secondary inward listing of Canal+ by introduction. The plan is designed to give South African investors direct exposure to the French group’s broader pay-TV and streaming business, which operates in several continents.
According to a company statement released Monday, Canal+ now holds about 94.39 percent of MultiChoice’s shares—well above the 90 percent acceptance threshold required to finalize the acquisition. “We want our new company to be double listed, which was a big reason for our London listing of Canal+,” said Chief Executive Officer Maxime Saada. “There is a fast-track process when you are listed in London to go to the JSE.”
Expanding African footprint
MultiChoice, founded in South Africa in 1985, became a household name across Africa in the early 1990s by offering live English football broadcasts and local programming. Spun off from Naspers in 2019, it now serves markets across the continent, including South Africa — home to Africa’s largest economy and a thriving film industry. Canal+’s acquisition values MultiChoice at roughly $3 billion.
Vivendi SE listed Canal+ in London last December as part of efforts to raise capital and expand its global reach. The combined company now serves about 40 million subscribers in nearly 70 countries across Africa, Europe, and Asia, with plans to invest more in original productions and live sports rights.
Bolloré tightens media hold
For Bolloré, whose net worth is pegged at $9.22 billion, the deal deepens his influence in Africa’s growing media market. Through Canal+, the Bolloré family—long-time owners of Vivendi—gains scale and visibility as the global entertainment industry adjusts to new streaming habits.
The takeover follows MultiChoice’s confirmation three weeks earlier that all conditions tied to the R35 billion ($2 billion) offer had been met, making the deal unconditional and paving the way for settlements in early October. South Africa’s Competition Commission approved the transaction in May, with the Competition Tribunal giving final clearance in July.
