Staff Writer
MultiChoice Group Limited says Groupe Canal+’s mandatory offer to acquire all ordinary shares in MultiChoice not already owned by Canal+ has become unconditional.
The cash offer of N$125 per share was first outlined in a circular on 4 June 2024.
As of 19 September 2025, all suspensive conditions have been met or waived. The settlement process will begin once the takeover regulation panel issues its compliance certificate.
Canal+ now directly owns 200,030,591 MultiChoice shares, equal to 46% of the company’s issued shares excluding treasury shares.
A further 9,767,641 shares, or 2.2%, have already been tendered under the offer.
Payments to shareholders who are accepted by the finalisation date of September 22 will be made on October 1.
Additional payments will follow until the final payment date of 17 October 2025 for both dematerialised and certificated shareholders who accepted by the closing date of 10 October.
In Namibia, MultiChoice operates as a local ICT anchor with four branches employing 140 staff, supported by over 130 installers, 33 agents, and more than 300 retail outlets.
The transaction, the largest in Canal+’s history, creates a combined entity with more than 40 million subscribers in nearly 70 countries across Africa, Europe and Asia, and a workforce of about 17 000 people.
The acquisition followed a lengthy regulatory process that included reorganising MultiChoice’s South African broadcast licensing structure to meet foreign ownership restrictions under the Electronic Communications Act.
With the restructuring complete, foreign shareholders such as Canal+ now have full voting rights in MultiChoice.
To address public interest concerns, Canal+ and MultiChoice pledged continued investment in South African content, including support for local sports, general entertainment, and small and historically disadvantaged enterprises in the audio-visual sector. Subscription and billing arrangements for customers remain unchanged.
Leadership changes have been confirmed. Maxime Saada, CEO of Canal+, will chair the new MultiChoice board.
David Mignot becomes CEO and Nicolas Dandoy CFO of Canal+ Africa, which now includes MultiChoice operations. Former MultiChoice CEO Calvo Mawela has been appointed Chair of Canal+ Africa, while outgoing CFO Timothy Jacobs takes a senior finance role in the combined group.
A majority of independent directors will remain to ensure oversight.
The integration process begins immediately. Canal+ is expected to present its strategic vision and synergies for the merged company in early 2026. Saada said the deal positions the group as a “global media and entertainment powerhouse”, able to invest in storytelling and sports content.
Mawela described it as the start of an “exciting new journey” for Africa’s media industry, while Mignot said the merged operations would use technology and digital platforms to expand access and amplify Africa’s voice globally.
Caption
Canal+ of France has become a major shareholder in MultiChoice Group.
- Photo: Contributed
