Chamwe Kaira
MultiChoice Group’s time as a publicly listed company is ending after Groupe Canal+ completed a takeover process that has been unfolding throughout the year.
In October 2025, Canal+ announced through the Stock Exchange News Service that it would use its legal right under section 124(1) of South Africa’s Companies Act to compulsorily acquire all remaining MultiChoice shares it did not own.
The squeeze-out marked the final step in a takeover closely watched by investors and regulators across Africa.
The October notice set out the timetable for the process, stating that once the acquisition was completed, MultiChoice’s ordinary shares would be removed from the Johannesburg Stock Exchange (JSE) and the A2X Markets platform.
The delisting required approval from the JSE, A2X, and the financial surveillance department of the South African Reserve Bank.
On Friday, 5 December 2025, Canal+ completed the compulsory acquisition and paid the required consideration.
With regulatory approvals secured, MultiChoice officially delisted from the JSE and A2X when trading opened on Wednesday.
Canal+ has stated that it will maintain its presence in the South African market.
As part of commitments made to competition authorities, the broadcaster will pursue a secondary inward listing on the JSE within nine months of MultiChoice’s delisting to keep market access open for South African investors.
For MultiChoice, the move marks the start of full Canal+ ownership away from public trading.
Last month, MultiChoice Namibia managing director Roger Gertze told the Windhoek Observer that the takeover brings stronger content offerings.
“On the movie side, they may have some access to some international content, which we did not have. Coming together, we will share with them the rights that we have, and they will share the rights that they have with us. There will be a richer content line-up; it’s a massive operation that will need time. But the commitment is that when there are low-hanging fruits, they must be passed on to customers. All of these things, we are rolling out, and the future looks brilliant for us,” Gertze said.
