Ever since the group schemed a merger with the unlisted cos of the group the listed entity has suffered.They took 18 months to formulate a dividend policy and and still there is no clarity on what is the policy. To accommodate and list the unlisted group cos they planned merger with listed co and suspended dividend. Now that the merger is close to completion they have another story of acquisition, which in all probability will be to rescue the parent of an investment in some country,
The CEO and CFO are uninspiring and the stock has given zero returns in the last 15 months and nil dividends.The company is being run remotely from Paris and the local heads have no role to play.
Wouldn’t be surprised if the group sells its stake in the next 18 months.
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