After Altice and Enel, who is going to take the next structure simplification initiative? Why not Vincent BOLLORE?
Why revisiting these cases now?
* The fresh move from Altice for SFR demonstrate a rising appetite of corporate leaders for structure simplification initiatives
Altice for SFR following Enel for EGP ,TUI for TUI Travel ,Sky for Sky Deutschland ,….
* The delivery of additional voting rights ,as a result of the applicability of the Florange Law ,may open up new opportunities in France (Florange Law is outlined in the appendix)
French Takeover Code entitles controlling shareholders to activate squeeze-outs as soon as they exceed 95% of voting rights (VRs)
Bollore/Havas/Vivendi : Vincent Bolloré seems willing to act ; BOL will receive double voting rights soon
Combination would leave BOL just below 30% ; HAV holders would deserve a premium
Fonciere Odet/ Bollore : Odet ,which owns 78% of voting rights …like currently Altice ,should be the surviving entity
BOshare depression imposes a reassuring reaction
Orange & Orange Belgium : the market cap of the float represents 1.6% of Orange's one ; has switched to ORANGE name
ACS * Hotchief : sounds to primarily be a question of price
Unipol & Unipol SAI : they just need to find the right banking partner first
Founder & Fimalac : The Possible activation of the Fitch Put would probably revive anticipations of delisting
Lactalis & Parmalat : French parent has again reloaded 21.4m shares this year
Renault & TP Renault : an obsolete and costly mechanism indeed