MultiChoice Group Limited has announced the commencement of a significant restructuring of its South African operations, directly linked to the mandatory takeover bid by Groupe Canal+.
The overhaul involves the MultiChoice South Africa Holding (MCSAH) group of companies and was required under conditions set by the South African Competition Tribunal, which approved Canal+’s ZAR125 per share cash offer with regulatory stipulations.
Importance of the Restructuring
MultiChoice explained that the restructuring is a vital step toward completing the Canal+ deal. It is designed to:
- Consolidate Canal+’s ownership position
- Strengthen compliance with South Africa’s competition and broadcasting laws
- Smoothen the path for the acquisition
With all agreements now finalized, the company has begun the process and will publish an updated timetable for the mandatory offer once the restructuring is completed.
Foreign Shareholding Rules
MultiChoice reminded investors of restrictions in its memorandum of incorporation, which cap foreign investor voting rights at 20% of the total voting power. This safeguard ensures alignment with South African media and broadcasting ownership laws.
The group also stated that all American Depositary Shares and shareholders with non-South African registered addresses will be treated as foreign unless proven otherwise.
Board’s Reassurance
The independent board of MultiChoice reiterated its responsibility for the accuracy of all disclosures, confirming that no material information has been withheld from shareholders.
Canal+ Acquisition Context
This update follows previous announcements on August 4 and August 26, 2025, where MultiChoice detailed the reorganisation plan as a prerequisite to enabling the Canal+ acquisition.
