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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 €400 million earnings before interest, tax and amortisation and over €300 million free cash flow run-rate cost synergies from 2030. By 2026, Ebita and free cash flow synergies are forecast of €150 million respectively, growing to €300 million and €250 million each by 2028, before hitting €400 million and €300 million from 2030. On free cash flow, over €80 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 €100 million to €200 million. Implementation costs are expected to amount to €35 million in 2026, €40 million in 2028 and €20 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.’ Copyright 2026 Alliance News Ltd. All Rights Reserved.
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