Edenred: leader of the CAC thanks to 'ticket resto' issue
(CercleFinance.com) - Alongside Sodexo, Edenred shares were amongst the biggest risers in the SBF 120 index on Tuesday, benefiting from a nuanced opinion from the French competition authority on the question of a possible cap on commissions on luncheon vouchers.
At around 10.15 a.m., Edenred was up 4.6%, the best performer in the CAC 40, while Sodexo was also up (around 1.6%).
This morning, the French competition authority (Autorité de la Concurrence) unveiled the opinion it issued to the government after it was asked to examine the appropriateness of a regulatory framework for commissions collected by meal voucher issuers from merchants.
While it considers that a price cap could be a response to market failures, it believes that this measure is not the most appropriate response.
In its opinion, the authority recommends that dematerialisation be made compulsory, that a structural solution be sought to rebalance the balance of power in the market, and that appropriate regulation of the sector be implemented.
In particular, it recommends greater transparency and legibility in terms of rates, i.e. through the implementation of an obligation to display the equivalent of an overall effective rate.
Edenred and Sodexo shares fell sharply at the beginning of the month, hit by the threat of a price cap on commissions charged on luncheon vouchers.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
At around 10.15 a.m., Edenred was up 4.6%, the best performer in the CAC 40, while Sodexo was also up (around 1.6%).
This morning, the French competition authority (Autorité de la Concurrence) unveiled the opinion it issued to the government after it was asked to examine the appropriateness of a regulatory framework for commissions collected by meal voucher issuers from merchants.
While it considers that a price cap could be a response to market failures, it believes that this measure is not the most appropriate response.
In its opinion, the authority recommends that dematerialisation be made compulsory, that a structural solution be sought to rebalance the balance of power in the market, and that appropriate regulation of the sector be implemented.
In particular, it recommends greater transparency and legibility in terms of rates, i.e. through the implementation of an obligation to display the equivalent of an overall effective rate.
Edenred and Sodexo shares fell sharply at the beginning of the month, hit by the threat of a price cap on commissions charged on luncheon vouchers.
Copyright (c) 2023 CercleFinance.com. All rights reserved.