Canal+ is moving ahead with its plans for a secondary inward listing on South Africa’s bourse as the French group takes full control of MultiChoice Group Ltd.

As part of the process, Canal+ will first delist MultiChoice from the Johannesburg Stock Exchange (JSE), said the company in a statement on October 13. It will then start a secondary inward listing of Canal+ by introduction, giving South African investors access to the larger pay-TV and streaming business.

In September, Canal Plus Group completed its $2.02 billion take-over of MultiChoice, the South Africa-based pay-TV operator on the continent.

The move considerably expands Canal+’s influence on the pay-TV market. Canal+ will service over 40 million subscribers across nearly 70 countries (including 50 nations in Africa) following the takeover which includes the key brands of SuperSport and DStv.

The new ownership is settling in and Canal+ has named a new board of directors. David Mignot appointed new CEO of merged group. Outgoing CEO Calvo Mawela appointed chair of Canal+ Africa.

MultiChoice implemented a reorganisation of its South African operations last month in line with conditions laid out by South Africa’s Competition Tribunal in July to approve the takeover.

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Tags: Canal+, multichoice, south africa