Canal+ to become first French company to list in South Africa on June 3

Canal+, the Pay-TV group and parent company of MultiChoice, is set to become the first French company to list on the Johannesburg Stock Exchange (JSE). The historic listing is slated for June 3. 

According to a statement by the group on Tuesday, the company noted that the development is part of the obligations it assumed when it acquired South Africa’s MultiChoice Group in 2025. 

Recall that the French media group completed its $3.2 billion acquisition of MultiChoice in September 2025 following an 18-month process that began with an initial bid in February 2024.

While Canal+ is preparing to list on the JSE, it is primarily listed on the London Stock Exchange (LSE). 

In its first financial results following the acquisition of MultiChoice, Canal+ said it made a good start to 2026, reporting broadly flat revenue, and it reiterated its guidance for the year.

The company reported annual core profit above guidance with earnings before interest, taxes, depreciation, and amortisation (EBITDA) reaching €527 million ($613 million) for 2025, ahead of it’s €515 million forecast.

The combined Canal+ and MultiChoice group reported revenues of €8.665 billion for 2025, with 42.3 million subscribers across operations in Europe, Africa, and Asia. Meanwhile, MultiChoice’s subscriber base fell from 14.9 million to 14.4 million in 2025.

For 2026, Canal+ anticipates moderate organic revenue growth, with adjusted EBIT forecast to rise to €565 million. Also, shares in the group, which fell 17% in March when it revealed the challenge it faces in reviving MultiChoice, have now risen by 7.5%.

Also Read: Canal+ to hire 1,000 salespeople across Africa to save failing MultiChoice.

Canal+ €100 million resurgence move for MultiChoice

Following MultiChoice’s negative performance, Canal+ CEO Maxime Saada launched an aggressive turnaround plan focused on strengthening sales, improving content offerings, and tapping what he has called Africa’s market potential.

He said the first steps in the MultiChoice turnaround had been launched, which include strengthening its commercial operations and recruiting new sales teams.

While announcing the financial results, Canal+ said it will hire more than 1,000 salespeople across Africa as part of a €100 million turnaround strategy for MultiChoice.

By hiring 1,000 salespeople, the company wants to improve content and simplify MultiChoice’s offerings. The group also announced it would simultaneously launch a voluntary severance plan for support functions at MultiChoice.

The closure of Showmax also marked Canal+’s transition from streaming to elevating MultiChoice’s declining popularity spot in Africa’s Pay-TV industry.