Lagardère has at last announced the disposal of its Sports division, in line with the strategic refocusing on Publishing and Travel Retail announced in FY18. The disposal price is far below our NAV estimate and a write-down will have to be booked, but we consider that getting out of this disappointing business is good news for the group.
16 Dec 2019
Lagardère finally disposing of its Sports business
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Lagardère finally disposing of its Sports business
Lagardere SA (MMB:PAR) | 0 0 0.8% | Mkt Cap: 3,246m
- Published:
16 Dec 2019 -
Author:
Véronique Cabioc'h -
Pages:
3
Lagardère has at last announced the disposal of its Sports division, in line with the strategic refocusing on Publishing and Travel Retail announced in FY18. The disposal price is far below our NAV estimate and a write-down will have to be booked, but we consider that getting out of this disappointing business is good news for the group.