Groupe CANAL + S.A. (Canal), the media arm of Vivendi and part of French billionaire Vincent Bollore’s Bollore Group, has completed its mandatory takeover of Johannesburg-listed MultiChoice, marking the largest acquisition in its history and opening a new chapter under the banner of Canal+ Africa.
The R35 billion ($2.02 billion) deal, priced at R125 ($7.23) per share, gives Canal+ control of South Africa’s pay-TV leader. As of Sept. 19, Canal+ directly owned 46 percent of MultiChoice shares, with another 2.2 percent tendered. That number is expected to climb as more investors accept the offer.
South Africa remains central in both leadership and structure
A mix of leaders from both companies will run Canal+ Africa. Outgoing MultiChoice chief Calvo Mawela will serve as chair, while David Mignot becomes chief executive. The business will operate under three divisions: Operations, Content, and Corporate Functions.
At the board level, Canal+ chair and CEO Maxime Saada will lead MultiChoice’s board, supported by Elias Masilela as lead independent director. Nicolas Dandoy takes over as finance chief, with Jacques du Puy joining as an executive member. Independent directors include Kgomotso Moroka, Louisa Stephens, Deborah Klein, and James du Preez.
Executives from both companies have emphasized that South Africa will stay at the heart of their plans. They pledged continued investment in local productions, support for businesses owned by historically disadvantaged groups, and stability for subscribers during the transition. Funding for sports and entertainment will also continue.
Regulatory approval and shareholder payouts
South Africa’s Competition Commission cleared the deal in May, with the Tribunal following in July under public-interest conditions. To comply with ownership and empowerment rules, MultiChoice restructured its local operations before the takeover. Shareholders who tendered will start receiving payments Oct. 1. The offer closes Oct. 10, with final payouts due Oct. 17.
With MultiChoice onboard, Canal+, founded 40 years ago, reaches over 40 million subscribers in nearly 70 countries across Africa, Europe, and Asia. MultiChoice strengthens English- and Portuguese-speaking markets with brands such as SuperSport, DStv, GOtv, and Showmax. Canal+ adds scale, a €3.5 billion ($4.11 billion) annual content budget, and support from StudioCanal, one of Europe’s top film and TV producers.
A new force in global media
Vincent Bolloré, worth about $9.58 billion, strengthens his grip on Africa’s media through Canal+’s takeover of MultiChoice. The Bolloré family, which controls Vivendi, gains scale and visibility as streaming and pay-TV reshape entertainment.
Since its 2024 London listing, Canal+ has pursued global growth, and this deal pushes it further. For MultiChoice, it brings deeper pockets to face global streamers and budget rivals in Africa The launch of Canal+ Africa makes the combined company a powerful player in world media, rooted in South Africa yet reaching far beyond the continent.