Big moment for new DStv owner in South Africa
MultiChoice owner and DStv operator Groupe Canal+ has confirmed it will list on the Johannesburg Stock Exchange (JSE) on 3 June 2026.
This came after the French media giant said it expected to list on the exchange soon alongside its annual results for the 2025 financial year.
“Secondary listing on the Johannesburg Stock Exchange scheduled for 3 June 2026,” the company said in a statement on its website.
Groupe Canal+ confirmed its intention to pursue a secondary listing on the JSE in October 2025, as part of the conditions it agreed to in its acquisition of MultiChoice.
The new MultiChoice Group owner is already listed on the London Stock Exchange and stated that it would be the first French company to trade its shares on the JSE.
In his March presentation of the annual financial results, Canal+ CEO Maxime Saada said the company expected to list on the JSE soon.
MultiChoice had delisted in December 2025 after six years and nine months of trading its shares on the exchange.
“We expect to list Canal+ on the Johannesburg Stock Exchange soon, in what will be a significant moment for our company,” Saada said.
“In Africa, we will ensure we are well-positioned to benefit from the continent’s growth potential and turn around in MultiChoice.”
A secondary listing on the JSE was one of the commitments Canal+ made to the Competition Commission when it sought approval to acquire the South African company.
Canal+ said the secondary listing will preserve market liquidity and trading access for South African investors.
Groupe Canal+ took control of MultiChoice in September 2025, following a lengthy mandatory buyout process.
In early December 2025, the South African pay-TV broadcaster announced that Canal+ had completed its compulsory acquisition of MultiChoice’s remaining shares, effective 5 December 2025.
A listing in June 2026 will fall within the nine-month timeframe Canal+ committed to, aiming to have its shares trading on the exchange by September 2026.
Deploying cost-cutting at MultiChoice
In its statement, Canal+ also said it would deploy the MultiChoice recovery plan and implement its cost-cutting plan “in accordance with expectations”.
The French company recently announced plans to spend up to €100 million (R1.9 billion) to facilitate MultiChoice’s turnaround and support its sustainable growth.
Its turnaround plan for the DStv owner is centred around four strategic pillars designed to drive subscriber growth and strengthen the business.
Firstly, the company will prioritise offering a compelling content proposition in Africa, with plans to leverage joint products, in-house channels, and global partnerships.
It said producing many hours of local African content and retaining key sports rights remain key cornerstones of the business.
Secondly, Canal+ will simplify and strengthen MultiChoice’s commercial propositions with clearer pricing, branding, and more effective marketing.
Thirdly, it aimed to increase subscriber growth by lowering entry costs through subsidies on hardware, expanding its distribution network, and deploying over 1,000 in-the-field salespeople.
The last pillar of the strategy — Operational Excellence at Scale — includes initiating a voluntary severance plan at MultiChoice’s support functions.
Furthermore, Canal+ is restructuring the MultiChoice Group’s wholly owned technology and cybersecurity company, Irdeto.
It said these interventions are designed to improve MultiChoice’s operational efficiency with best practices and a standardised operating model across markets.
Canal+ assured that the measures were consistent with the commitments it made to the Competition Tribunal during the acquisition of MultiChoice.
Therefore, South African employees across the MultiChoice Group would be safe from retrenchments for a few years.
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