FNAC Darty: Likely To Be Taken Private

FNAC Darty: results have beaten forecasts for the electrical goods retailer – despite the “Yellow Vests”. One of the company’s top shareholders – Ceconomy, which owns 24% currently, is looking to take the group private.

Rumours have been swirling around both France and England over the past few weeks, with the feeling being that the matter is coming to a head, and a deal done in the €90 zone. The stock has been up to €106, so €90 is an excessive number whatever happens to this situation. It also seems to be the case that the financial media sources are developing the story here.

Shares of FNAC have just broken their 200 day moving average at €70 – breaking into technical bull mode. Above this the next charting resistance is at €85, not far off the mooted €90 take private level.

Disclaimer

Zakmir.com is a purely journalistic website – Zak Mir is a member of the National Union of Journalists. There is no intention here of providing financial advice. It is  recommended you seek an independent professional opinion before deciding whether or not to take any action with regard to anything written here.

Author: Zak Mir

Financial commentator, interviewer, technical analyst

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