(News Bulletin 247) – Oddo BHF analysts are wondering about the possibility for Bolloré to undertake an acquisition in the media sector in parallel with Vivendi.
The group would use its cash to make a major acquisition which could then serve as the basis for a merger with Vivendi. ‘Compagnie de l’Odet could then retain control of the new merged entity’ indicates Oddo BHF.
The analyst reiterates his Outperformance opinion on Vivendi with a target of 13 E.
‘ In view of the group’s investment capacity (>6 MdE) and assuming that the target is listed, this would induce a valuation of the order of 4 to 5 MdE/$ maximum (and therefore ~6 MdE with the premium ). We could, for example, imagine the acquisition of Lions Gate ($2 billion) or Simon & Schuster ($2 billion) or both! ‘ indicates Oddo BHF.
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