South Africa’s leading pay-TV operator, Multichoice, owner of DStv and Showmax, will officially delist from the Johannesburg Stock Exchange (JSE) this week following its acquisition by French media giant Canal+.
Multichoice
The delisting, scheduled to take effect on Wednesday, Dec. 10, 2025, also applies to Multichoice’s ordinary shares on the A2X Markets.
The move comes after Canal+ completed a Squeeze-Out of remaining shareholders, securing full ownership of the company after nearly two years of acquisition efforts.
According to the company, the delisting remains subject to regulatory approvals from the JSE, the A2X, and the South African Reserve Bank. Canal+ has pledged to comply with conditions set by South Africa’s competition authorities and intends to proceed with a secondary inward listing on the JSE within nine months of the delisting.
Founded in 1985 with the launch of M-Net, Multichoice has been a household name across Africa for four decades. It introduced DStv in 1995, expanded into multiple African markets, and launched its streaming platform, Showmax, in 2015.
In 2019, Multichoice was spun out of Naspers, South Africa’s most valuable company, and later began secondary trading on A2X in 2020.
The acquisition by Canal+ marks a significant shift in South Africa’s media landscape. Local investors will no longer be able to hold direct stakes in Multichoice, but will only gain indirect exposure once Canal+ completes its planned inward listing.
Industry analysts say the takeover underscores the growing consolidation in global media markets, with Canal+ strengthening its footprint across Africa through Multichoice’s extensive subscriber base and sports broadcasting rights via Supersport.
