France’s Canal+ to List in South Africa in $3 Billion Deal (1)

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

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

“We want our new company double listed, which was a big reason for our London listing of Canal+,” Chief Executive Officer Maxime Saada said ...