29th Jan 2026 11:07
(Alliance News) - Shares in Canal+ SA on Thursday soared as it set out better-than-expected cost savings, and free cash flow synergies, from the purchase of MultiChoice Group Ltd.
The Paris-based media and entertainment group wrapped up the acquisition of South African peer MultiChoice December buying out the remaining minority shareholders.
Canal+ late in October started to compulsorily acquire the remaining MultiChoice shares after crossing the 90% share ownership threshold.
The combined group will serve more than 40 million subscribers across nearly 70 countries in Africa, Europe and Asia.
On Thursday, Canal+ said the "transformational" deal provides strong long-term growth potential and global scale.
With increased economies of scale, Canal+ expects to deliver over EUR400 million earnings before interest, tax and amortisation and over EUR300 million free cash flow run-rate cost synergies from 2030.
By 2026, Ebita and free cash flow synergies are forecast of EUR150 million respectively, growing to EUR300 million and EUR250 million each by 2028, before hitting EUR400 million and EUR300 million from 2030.
On free cash flow, over EUR80 million in synergies have already been secured for 2026.
Shares in Canal+ leapt 13% to 313.30 pence each in London on Thursday.
Bank of America raised its share price target to 450p from 400p and said the synergies were "meaningfully above expectations" of EUR100 million to EUR200 million.
Implementation costs are expected to amount to EUR35 million in 2026, EUR40 million in 2028 and EUR20 million in 2030.
Chief Executive Officer Maxime Saada Canal+ is "well positioned to benefit from growth in Africa and capitalise on the significant opportunities ahead."
By Jeremy Cutler, Alliance News reporter
Comments and questions to [email protected]
Copyright 2026 Alliance News Ltd. All Rights Reserved.
Related Shares:
Canal+