HALISTER1: Roularta Climbs; KBC Upgrades to Buy, Raises PT to EU24

Roularta Climbs; KBC Upgrades to Buy, Raises PT to EU24

(Bloomberg) -- Roularta Media Group shares climb as much as 34% on Euronext Brussels, most intraday since at least December 1998, after the Belgian company said it will sell its holding in Medialaan and buy a 50% stake in Mediafin from De Persgroep.
  • Shares up 25% to EU18.25 as of 10:28am CET, volume of 7.7x the 3-monthly daily average
  • KBC raises stock rating to buy from hold; PT increased to EU24 due to hefty premium paid compared to its sum-of-parts valuation
    • Believes transaction is “highly value accretive”
    • Roularta had 0 buys, 1 hold, 1 sell before today
  • Roularta to be fully focused on magazines, newspapers and local media
  • NOTE: Earlier, Roularta Media Group Buys 50% Stake in Mediafin
To contact the reporter on this story: Marine Strauss in Brussels at mstrauss30@bloomberg.net To contact the editors responsible for this story: Jerrold Colten at jcolten@bloomberg.net Cecile Vannucci

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
ROU BB (Roularta Media Group NV)

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