Lagardère: Oddo confirms rating after AGM

(CercleFinance.com) - Yesterday Lagardère held its 2020 AGM (ordinary and extraordinary).


The main point is that it has confirmed the composition of its Supervisory Board following the rejection of resolutions for dismissal/renewal. The group's governance will therefore remain unchanged in 2020, with a probable renewal of management (CEO) in 2021, Oddo says.

Oddo believes that the question that remains open is whether a change in the legal structure (SCA) could take place under the impetus of Arnaud Lagardère (general partner).

Vivendi (which holds about 11% of Lagardère's capital) could play a central role in this evolution, especially if it increases its stake in the future, which could give it a significant weight to push for legal/governance changes, the broker adds.

Oddo confirms its neutral rating on the share, along with its target share price of 16 euros.


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