French media powerhouse Canal+ has announced plans for a secondary inward listing on the Johannesburg Stock Exchange following its $3 billion acquisition of South African pay-TV leader MultiChoice Group Ltd.

In a statement on Monday, Canal+ said the listing forms part of its broader strategy to expand its presence across Africa while leveraging MultiChoice’s sizable subscriber base and local market expertise within its global operations.

The company explained that the process will start with MultiChoice’s delisting from the JSE, after which Canal+ will pursue a secondary inward listing by introduction.

This approach will enable South African investors to directly hold shares in the enlarged Canal+ Group, which now operates one of the world’s largest pay-TV and streaming portfolios, according to Bloomberg.

With the acquisition, Canal+ gains direct access to Africa’s largest film and television market, supported by a robust distribution network and a production ecosystem that spans more than 50 countries.

The merger is expected to create a combined entity with nearly 40 million subscribers, providing Canal+ with the scale and financial strength to compete with global streaming giants such as Netflix and Amazon Prime Video.

Analysts note that the planned JSE listing reflects Canal+’s confidence in South Africa’s capital markets and its long-term commitment to the continent’s creative and media economy.

The transaction also marks a significant milestone for Vivendi SE, the parent company of Canal+, which listed the broadcaster in London last December to advance its global expansion strategy.

The planned inward listing in South Africa will complement that move by anchoring the group’s African operations within one of the continent’s leading financial hubs.