Chamwe Kaira
French media company Groupe Canal+ has completed its takeover of MultiChoice Group Limited, marking the largest deal in the company’s history. The merger creates one of the world’s biggest media and entertainment groups, with over 40 million subscribers across nearly 70 countries.
The offer by Canal+ to acquire all outstanding shares in MultiChoice closed on 10 October, with 92.54% of shareholders accepting the N$125 per share cash offer.
Combined with shares already held by Canal+, the company now owns 94.39% of MultiChoice’s total issued ordinary shares.
Following the strong shareholder response, Canal+ announced that it will use section 124(1) of South Africa’s Companies Act to acquire the remaining shares it does not yet own through a “squeeze-out” process.
Once completed, MultiChoice will become a wholly owned subsidiary of Canal+, and its shares will be delisted from the Johannesburg Stock Exchange (JSE), pending approval from the South African Reserve Bank.
Canal+ also confirmed plans to pursue a secondary inward listing on the JSE, alongside its primary listing in London, to allow South African investors continued access to the merged group.
The company said the fast-track listing process will help preserve market liquidity and maintain local participation in the expanded media business.
“This acquisition cements our long-term commitment to South Africa and Africa’s creative economy,” said Maxime Saada, CEO of Canal+.
“Given the important role Canal+ will now play in South Africa and across the African continent, it is critically important that domestic investors have exposure to a leading global media and entertainment company on the Johannesburg Stock Exchange.”
The merger unites two of Africa’s most prominent media players—MultiChoice, owner of DStv, Showmax, and GOtv, and Canal+, a subsidiary of the Vivendi Group.
The combined group will employ around 17,000 people globally and plans to expand investment in African content and digital innovation.
In Namibia, MultiChoice has faced a decline in subscribers, losing about 35,578 DStv and GOtv customers between the start of 2023 and the end of 2024.
In April 2025, the company increased DStv subscription prices by between 6% and 8%, depending on the package.
To counter subscriber losses and growing competition, MultiChoice Namibia is increasing its investment in local productions. This includes the Ombura project, now in its second phase, which focuses on developing new series, films, and documentaries.
The company employs about 140 permanent staff, works with over 130 installers and 33 agents, and distributes its services through more than 300 retailers across four branches.
Caption
MultiChoice is expected to delist from the JSE.
- Photo: Contributed
