Kone: Oddo welcomes decision in Thyssenkrupp case

(CercleFinance.com) - An analyst at Oddo BHF welcomes this morning's decision to withdraw from negotiations with Thyssenkrupp, relating to the German group's Elevator Technologies division.


The broker says that it validated the industrial interest of such a merger, believing that the price did not seem excessive. However, from the start, it pointed out the risk that the competition authorities would block a merger between the groups. In terms of value, it calculated market shares of 34% in Europe and 35% in North America for both groups together. It therefore saw a highe risk for both companies.

Oddo BHF maintains its neutral rating on the Kone share, with a target price of 55 euros, pretty much in line with its current price.


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