MultiChoice Confirms JSE and A2X Delisting After Canal+ Completes 100% Takeover

MultiChoice Group  has confirmed the termination of its listings on the Johannesburg Stock Exchange (JSE) and the A2X after Groupe Canal+ completed its compulsory acquisition of all remaining ordinary shares not already held by the company. This follows the announcement issued by Canal+ on 24 October 2025, in which the company exercised its right under section 124(1) of the South African Companies Act to acquire all outstanding MultiChoice shares, excluding treasury shares and those owned by Canal+ and its related parties.

In that earlier announcement, Canal+ outlined the timeline for its mandatory acquisition process and confirmed that, once completed, MultiChoice shares would be delisted from both the JSE and A2X on 10 December 2025—subject to regulatory approvals. These conditions included approval from the JSE, A2X, and the Financial Surveillance Department of the South African Reserve Bank.

MultiChoice has now confirmed that Canal+ finalized the compulsory acquisition on 5 December 2025, and the required consideration for the remaining shares has been paid in accordance with section 124(5)(a)(ii) of the Companies Act. All necessary regulatory approvals have also been secured. As a result, the delisting will officially take effect when trading opens on Wednesday, 10 December 2025.

Looking ahead, Canal+ has reaffirmed its commitment to the conditions set by South Africa’s competition authorities regarding the acquisition. As part of these commitments, Canal+ intends to pursue a secondary inward listing on the JSE within nine months of MultiChoice’s delisting. This step aligns with the procedures and timelines outlined in the regulatory approvals and ensures ongoing compliance with competition requirements.

The announcement, dated 8 December 2025 and released from Randburg, lists Merchantec Capital as the transaction sponsor.