Bolloré: Oddo still a buyer

(CercleFinance.com) - According to Le Nouvel Obs, Bolloré is considering a sale of its businesses in Africa.


The article indicates that the scope could concern all African activities - not just port activities, according to Oddo analysts this morning.

This information comes as a surprise and has never been mentioned by the management until now. It would however be logical given the increasing capital requirements for this business. If such a sale were to take place, Bolloré Transport & Logistique would then be refocused solely on its freight forwarding business. Initially, a valuation of 5.4 billion euros would be possible, Oddo says.

The analyst reiterates his Outperform rating on the stock with a target price of 6.30 euros.


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