Oddo BHF is maintaining its 'Neutral' rating on the stock with a price target of 7.80 E following the announcement that VMO Invest has crossed the 5% ownership threshold in Voltalia.

Oddo BHF noted this morning that Voltalia announced it had received a threshold crossing declaration from VMO Invest. According to the filing, VMO Invest has moved above the 5% threshold of Voltalia's share capital and, as of May 6, 2026, holds 6,575,000 shares, representing 5.007% of the share capital and 6,575,000 voting rights, or 2.943% of total voting rights.

Oddo BHF conducted research into this new Voltalia shareholder.

According to Oddo BHF, an analysis of the main partners and shareholders of these various structures reveals a common denominator: the Motte family, which manages these various entities through several of its members.

'The Motte family is from northern France and has close ties with the Mulliez family (whose Alterbiz entity is the majority shareholder of Voltalia),' the research firm specified.

'Overall, the links between the Motte and Mulliez families are at once direct genealogical connections, economic (shared textile industry leadership), and social (bourgeois Catholic families from the North),' Oddo BHF added in its conclusion.