Nets shares reach highest price since Feb. 27, gaining as much as 1.3%, with volume at 33% of 3-month daily average after ~1.5 hours of trading.
Citi starts coverage with neutral rating and DKK122 PT
Says M&A analysis gives shares support at current level, sees reasonable chance that Worldline could make takeover bid
Says Wordline tried but failed to buy Nets in 2014, has recently said it wants Nordic expansion so a Nets takeover “would make sense both strategically and financially”
Nets is currently helped by its leading Nordic market position; still, emerging threats could erode some benefits