Natixis released its Q4 20 numbers yesterday evening, but that was only a small detail in the light of the offer its main shareholder (BPCE) is planning to make on the 30% stake it does not own in the company, at a price of €4. This is well below the €19 IPO price but optimists will say it is well above the September 2020 price. However, this should not mask the erratic strategies of successive managements and is a stark reminder to any minorities.
