MultiChoice Group is set to delist from the Johannesburg Stock Exchange (JSE) on December 10, 2025, marking the end of its six-year run as a publicly traded company. The move follows French media conglomerate Canal+ securing control of over 90% of MultiChoice’s shares, effectively completing its long-anticipated takeover of Africa’s leading pay-TV operator.
According to a notice to shareholders released on Friday, trading of MultiChoice shares on both the JSE and A2X will be suspended starting Monday, October 27, 2025, ahead of the official delisting date. The final step remains subject to regulatory approval from the JSE, A2X, and the South African Reserve Bank’s Financial Surveillance Department.
Canal+ Invokes Compulsory Share Acquisition
Having crossed the 90% ownership threshold, Canal+ is now legally empowered under Section 124(1) of South Africa’s Companies Act to compulsorily acquire all remaining MultiChoice shares from shareholders who did not accept its takeover offer.
The company confirmed that the remaining shares will be purchased on the same terms and offer price as those presented during the original bid.
“The Remaining MultiChoice Shareholders are reminded of their rights to apply to a court of competent jurisdiction within 30 business days after receiving the Notice in terms of section 124(2) of the Companies Act,” the notice read.
If no legal objections are raised, Canal+ will finalize the compulsory acquisition six weeks after the notice date, completing MultiChoice’s transition into a wholly owned subsidiary of the French media group.
End of a Six-Year Run on the JSE
The delisting brings to a close MultiChoice’s six-year tenure on the JSE, having first been listed in 2019 following its spin-off from Naspers.
Earlier this month, Canal+ confirmed its intention to pursue a secondary inward listing on the JSE after completing the acquisition. The plan will enable South African investors to hold shares directly in the enlarged Canal+ Group, which now operates one of the largest pay-TV and streaming portfolios globally.
Strategic Integration and Expansion
The acquisition forms part of Canal+’s broader strategy to expand its African footprint, integrating MultiChoice’s extensive subscriber base, local expertise, and content capabilities into its international operations.
In September 2025, MultiChoice announced major board changes and a shift in its financial year-end to align with its new ownership structure. The move followed the finalization of the $3 billion takeover, marking the largest transaction in Canal+’s history and signaling the creation of one of the world’s biggest media and entertainment conglomerates.
With MultiChoice’s delisting and Canal+’s forthcoming inward listing, the combined entity is poised to reshape the pay-TV and streaming landscape across Africa and beyond, merging global experience with deep local insight.
