Bouygues has been trading down for teh last 2 weeks, underperforming mkt by more than 7%...
- Altice developments with Suddenlink, TWC, and maybe verizon wireless now put some pressure on the name, forcing some investors to think that Bouygues Telecom bid won't come soon...
- Macron comments on sector in France and the need for operators to invest, were not seen as positive also...
- Construction performed quite well on this period so really think that's clearly because of telco tha th stock underperformed...
- Spie IPO could also be a factor for the stock to underperform as anothe pure play in the construction sector will be available...
I still believe that regarding the potential synergies that could be done between numericable and Bouygues telecom, Altice is still interested in doing a deal...not sure that Martin Bouygues wiull continue to invest heavily in telco sector and if he doesn't he will destroy some value and burn a lot of cash
I have been pushing the stock few days ago and will continue to buy some here, if webreak these support, stock could rrade down to 34.3 levels...
