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Lagardère: share rockets as Arnault group enters capital

( - The Lagardère share has soared over 30% on Friday morning in early trading on the Paris stock exchange.
This surge follows Groupe Arnault's acquisition of a 27% stake in Lagardère C&M, after having already acquired 5.51% of Lagardère SCA.

The group is thus a shareholder in both structures of the Lagardère loop, Oddo analysed this morning. The broker therefore believes that it is entirely possible [that Groupe Arnault] will continue its acquisitions of Lagardère SCA shares with the aim of securing a blocking minority.

While many observers continue to believe that Groupe Arnault has invested in this asset only for personal and family considerations, Oddo believes that Groupe Arnault could instead have a long-term development plan for Lagardère SCA: to create a French/European content leader with a global vocation.

Arnaud Lagardère said he was very proud and happy with this association with Groupe Arnault. It is a very high-quality partner that will accompany us over the long term and support our ambitious and responsible development strategy around our two core businesses, he added.

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