Ingenico: shares slip as speculation subsides.

(CercleFinance.com) - Shares in French payments company Ingenico were down 0.
5 percent on Tuesday, after rising as much as 4.5 percent yesterday, after media reports stated that the group had been approached by French rival Worldine over a potential 8 billion euro acquisition.

Early yesterday morning, La Lettre de L'Expansion reported that Worldline was planning to propose a friendly takeover bid of Ingenico worth between 7.5 billion and 8 billion euros, analysts at Bryan Garnier pointed out.

The brokerage firm adds that the groups denied the article's content.

"The valuation of 7.5-8 billion euros (...) compared to the current valuation of 5.7 billion euros was a nice rally but we did not believe in it since the story did not fit in with Worldline's strategy of focusing more on payment services, rather than payment terminals," Bryan Garnier said.

Shares in Ingenico, were down 0.6% at 91.5 euros today. At Monday's high of 99.2 euros, they had recorded a gain of 4.5 percent, before finishing the session down 3.1 percent at 92.1 euros after the denials.

Bryan Garnier sees Ingenico's current share price as "a good buy opportunity."

Copyright (c) 2017 CercleFinance.com. All rights reserved.