Canal+ Group, a French TV channel, has completed the takeover of MultiChoice, the South African pay-TV operator, with the transaction now unconditional.
The transaction, announced in a joint statement on Monday, makes Canal+ the direct owner of 46 percent of MultiChoice shares, with an additional 2.2 percent secured through shareholder acceptances.
The firms said the deal, valued at 125 rand per share, secured a 48.2 percent stake in what was described as the largest transaction ever.
With the acquisition, the companies are expected to serve over 40 million subscribers across nearly 70 countries in Africa, Europe, and Asia, supported by a combined workforce of 17,000.
According to the statement, Maxime Saada, chief executive officer (CEO) of Canal+, has been appointed chairman of MultiChoice’s restructured board.
David Mignot will head Canal+’s African operations, which now include MultiChoice, as CEO; while Nicolas Dandoy assumes the role of CFO.
The companies said Calvo Mawela, MultiChoice’s former chief executive, has been named chair of Canal+ Africa.
According to the organisations, the merger is being accompanied by structural changes to comply with South Africa’s foreign ownership rules.
Previous voting restrictions for non-South African shareholders have now been removed, while Canal+ pledged to maintain funding for locally produced entertainment and sports content.
“Today marks an important step forward for CANAL+, as we begin to integrate MultiChoice to create a group with enhanced scale, reach and creativity,” Saada said.
He added that the new entity will deepen investments in “creative and sporting content across its global footprint”.
On his part, Mawela described the deal as “an exciting new journey for Africa’s media industry”.
Mignot said the integration would harness digital innovation to expand access and “give Africa a stronger voice on the world stage”.
Canal+ said it will provide a strategic update on expected synergies and growth plans in the first quarter of 2026.
On July 23, 2025, the French company received final approval from the South African competition tribunal to acquire MultiChoice.
