BT Group: UBS says share should be volatile
(CercleFinance.com) - The UK government is to review Altice's stake.
The telecoms operator says that the Secretary of State for Business, Energy and Industrial Strategy has sent it a notice under the National Security and Investment Act 2021.
This legislation introduces an investment screening system for companies seeking to take control of a company in a number of sectors that are deemed strategic from a national security perspective.
Following the announcement, UBS reiterated its neutral rating on the stock with a target price of 181p (current price: 186p, +0.35%).
"Move is likely to bring mixed fundamentals back to the fore - we expect shares to be volatile and trade in 150-200p range," UBS says.
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