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MarketScreener Homepage  >  Equities  >  Xetra  >  Allianz SE    ALV   DE0008404005

ALLIANZ SE

(ALV)
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Allianz : EU clears Altice, Allianz, Omers acquisition of Covage

11/27/2020 | 11:37am EST
FILE PHOTO: The logo of cable and mobile telecoms company Altice Group is seen during a news conference in Paris

BRUSSELS (Reuters) - The European Commission said on Friday it had approved the proposed acquisition of French fibre optics operator by rival SFR FTTH controlled by Altice, Allianz and Omers, subject to conditions.

The Commission, which oversees competition policy in the 27-nation European Union, had concerns that the takeover would reduce competition in the wholesale market for fibre-to-the-office (FTTO) networks and could shut retail competitors from access to Covage's fibre capacity at wholesale level.

Covage only sells fibre network access on the wholesale market, while SFR FTTH is active in both wholesale and retail markets.

To address the Commission's concerns the parties offered to divest most of Covage's FTTO business and to offer assets and services required to operate this divested business for a transitional period.

The Commission said that the transaction, as modified by the commitments, no longer raised competition concerns.

(Reporting by Philip Blenkinsop)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ALLIANZ SE -0.52% 202.15 Delayed Quote.0.72%
ALTICE EUROPE N.V. 0.04% 5.336 Real-time Quote.0.15%
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Financials
Sales 2020 139 B 168 B 168 B
Net income 2020 6 785 M 8 193 M 8 193 M
Net Debt 2020 22 866 M 27 610 M 27 610 M
P/E ratio 2020 12,3x
Yield 2020 4,79%
Capitalization 83 225 M 101 B 100 B
EV / Sales 2020 0,76x
EV / Sales 2021 0,74x
Nbr of Employees 147 268
Free-Float 99,8%
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Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 215,49 €
Last Close Price 202,15 €
Spread / Highest target 27,6%
Spread / Average Target 6,60%
Spread / Lowest Target -8,48%
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Managers and Directors
NameTitle
Oliver Bšte Chief Executive Officer
Michael Diekmann Chairman-Supervisory Board
Barbara Karuth-Zelle Chief Operating Officer
Giulio Terzariol CFO, Head-Finance, Controlling & Risk
Gabriele Burkhardt-Berg Vice Chairman-Supervisory Board
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