Casino is all set to execute an ownership change and a restructuring plan. We expect the overhaul of the French performance to prove fairly difficult and the Consortium’s business plan/financial estimates unlikely to be achieved. Our assumptions include a complete disposal of the LatAm operations over the next few months as the new CEO focuses on trying to overhaul the French business. Our target price is reduced further to 0.12 per share. Better to stay on the side-lines in our view, until such ....
