Largadère: Oddo says sell
(CercleFinance.com) - Oddo recommends investors reduce their holdings in Lagardère, with a target price of 15 euros, in the context of discords between shareholders.
Indeed, Largadère has refused to convene an EGM, as requested by Vivendi and Amber Capital.
Two days before a hearing in the commercial court on this matter, the FT Qatar Holding (QIA), which has 13% of the group's capital and 19.8% of its voting rights, considered that it was legitimate for all shareholders to be represented on the supervisory board.
Oddo says that [This] statement made yesterday does not demonstrate what the group's position will be: i.e. support from Lagardère C&M or Vivendi/Amber, which says that the question of the majority will be decisive, although impossible to forecast for the moment.
The broker expects a status quo regarding the company's form and management.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
Indeed, Largadère has refused to convene an EGM, as requested by Vivendi and Amber Capital.
Two days before a hearing in the commercial court on this matter, the FT Qatar Holding (QIA), which has 13% of the group's capital and 19.8% of its voting rights, considered that it was legitimate for all shareholders to be represented on the supervisory board.
Oddo says that [This] statement made yesterday does not demonstrate what the group's position will be: i.e. support from Lagardère C&M or Vivendi/Amber, which says that the question of the majority will be decisive, although impossible to forecast for the moment.
The broker expects a status quo regarding the company's form and management.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.