Casino Guichard: Intention to launch a voluntary cash tender offer on Cnova shares (first take)
BUY, Fair Value EUR57 (+12%)
Casino has just announced its intention to launch a voluntary cash tender offer on the outstanding shares in Cnova. This operation has the merit of unravelling a financial package whose consistency has never appeared in the eyes of the market. The question, however, is whether or not this could lead to a strong rerating of Cdiscount France.
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