Iliad: Oddo confirms 'buy' rating

(CercleFinance.com) - On Thursday Oddo reiterated its "buy" rating on the Iliad stock, maintaining its target price of 320 euros, with the group having recently announced the acquisition of a 31.
6% stake in eir alongside NJJ, Xavier Niel's holding structure which has the group's main shareholdings and which has acquired 32.9% of its share capital.

During the conference call, the group reassured the investors on several items: management's priority remains France and Italy, the teams of NJJ will be in charge of the assets and for the moment there are no potential synergies with the Iliad group, given its Italian focus. In addition, Iliad wants to maintain its financial flexibility in the event of consolidation in France or Italy, which is why the company did not want to increase its stake any further so as not to consolidate eir's debt, the broker points out, which mentions an "attractive deal," "all the more so that we can eventually imagine that Iliad is trying to develop synergies".


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