Numericable Likely to Bid for Bouygues Telecom Post-SFR: Exane
2014-10-28 07:47:28.370 GMT
By Sam Chambers
Oct. 28 (Bloomberg) -- Numericable probably will continue
to consolidate French telco mkt. by acquiring Bouygues Telecom
for EU6.5b after completing merger with SFR, Exane says.
* Deal would create EU9/shr in value for NUM holders: Exane
* NOTE: Iliad’s failure to acquire T-Mobile USA will raise
French consolidation hopes, analysts said
* NOTE: Iliad’s failure to acquire T-Mobile USA will raise
French consolidation hopes, analysts said</li></ul>
* Remedies imposed on NUM/SFR deal are in-line with
expectations and any new wholesale offers are unlikely to
jeopardize forecasted synergies, Exane says
* Says the first of two planned capital increases may
start as soon as this week; could potentially trigger
NUM’s inclusion in MSCI Standard during the Nov. review
* Reiterates outperform with a PT of EU52 (8% upside)
* Reiterates outperform with a PT of EU52 (8% upside)</li></ul>
* NOTE: NUM shrs rose 5.5% yday after co. reported 3Q sales
ahead of ests. and was granted conditional regulatory
approval for its merger with SFR
* NOTE: NUM has 6 buys, 5 holds, 3 sells with avg PT EU43.8
(9% downside)
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To contact the reporter on this story:
Sam Chambers in London at +44-20-7673-2021 or
schambers7@bloomberg.net
To contact the editor responsible for this story:
James Ludden at +44-20-7673-2645 or
jludden@bloomberg.net
2014-10-28 07:47:28.370 GMT
By Sam Chambers
Oct. 28 (Bloomberg) -- Numericable probably will continue
to consolidate French telco mkt. by acquiring Bouygues Telecom
for EU6.5b after completing merger with SFR, Exane says.
* Deal would create EU9/shr in value for NUM holders: Exane
* NOTE: Iliad’s failure to acquire T-Mobile USA will raise
French consolidation hopes, analysts said
* NOTE: Iliad’s failure to acquire T-Mobile USA will raise
French consolidation hopes, analysts said</li></ul>
* Remedies imposed on NUM/SFR deal are in-line with
expectations and any new wholesale offers are unlikely to
jeopardize forecasted synergies, Exane says
* Says the first of two planned capital increases may
start as soon as this week; could potentially trigger
NUM’s inclusion in MSCI Standard during the Nov. review
* Reiterates outperform with a PT of EU52 (8% upside)
* Reiterates outperform with a PT of EU52 (8% upside)</li></ul>
* NOTE: NUM shrs rose 5.5% yday after co. reported 3Q sales
ahead of ests. and was granted conditional regulatory
approval for its merger with SFR
* NOTE: NUM has 6 buys, 5 holds, 3 sells with avg PT EU43.8
(9% downside)
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Sam Chambers in London at +44-20-7673-2021 or
schambers7@bloomberg.net
To contact the editor responsible for this story:
James Ludden at +44-20-7673-2645 or
jludden@bloomberg.net