Bolloré: Oddo still a buyer

(CercleFinance.com) - Oddo maintains its "outperform" rating on Bolloré shares, with an unchanged target price of 6.
8 euros.

The broker said that the sale of Bolloré Africa Logistics should be completed in Q1 2023, a transaction that would enable Bolloré to recover 5.7 billion euros in cash.

Analysts believe that that this sum could be used to launch bids for Bolloré and Vivendi and that it is sufficient to allow Sofibol (the fourth structure in the Bolloré loop from the bottom and including Vivendi) to merge the three structures under it: Compagnie de l'Odet, Bolloré and Vivendi.

If this scenario were to materialise, the value creation potential would be 120% for Compagnie de l'Odet (not followed) and 20% to 25% for Bolloré and Vivendi (level of premium granted and ~65% for Vivendi taking into account synergies/value creation via the integration into Odet), Oddo believes


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