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TF1 Likely to Pay Special Div. With Eurosport Proceeds: Goldman 2014-01-22 07:50:30.446 GMT
By Blanche Gatt Jan. 22 (Bloomberg) -- TF1 expected to use proceeds of sale of further 31% of Eurosport to Discovery, announced yday, for special div. to shareholders, Goldman Sachs says in note. * Goldman says proceeds, amounting to EU253m, would result in special div. of EU1.2/shr * Sale of 31% stake implies 10% dilutive effect on 2014 EPS est., Goldman says * Sees potential upside from French ad recovery, ameliorating competitive outlook, possibility of more cost savings, cash returns; reiterates buy * NOTE today: TF1 Gets Good Deal in Eurosport Control Sale to Discovery: JPM
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To contact the reporter on this story: Blanche Gatt in London at +44-20-7392-0351 or bgatt@bloomberg.net
To contact the editor responsible for this story: James Ludden at +44-20-7673-2645 or jludden@bloomberg.net