French media giant Canal+ has confirmed plans to pursue a secondary inward listing on the Johannesburg Stock Exchange (JSE) following its full acquisition of South African pay-TV leader MultiChoice Group Ltd., a deal valued at approximately $3 billion.
Canal+, in a statement released on Monday, said the move is part of its broader strategy to deepen its footprint across Africa while integrating MultiChoice’s extensive subscriber base and local market expertise into its global operations.
The company noted that the process will begin with the delisting of MultiChoice from the JSE, after which Canal+ will proceed with a secondary inward listing by introduction. This will allow South African investors to hold shares directly in the enlarged Canal+ Group, which now operates one of the largest pay-TV and streaming portfolios in the world, Bloomberg first reported.