Marshall wants Metlen to wear… Burberry – The short party is ending – Avax near a deal – Credia + Aktor = €4 billion
Metlen has dropped from position 68 to position 80 in the FTSE 100.
From a well-informed source, BN received an interesting piece of information: the goal of the Marshall fund is to bring Metlen’s (Mytilineos) market capitalization down to Burberry’s zone.
The same source emphasized that after this short-selling “party,” the fund will close its position in Metlen.
Marshall wants Metlen… in Burberry’s place
What does the phrase “Marshall wants Metlen… in Burberry’s place” actually mean?
Metlen is currently valued on the Athens Stock Exchange at €6 billion, with its share price at €41.90.
Within the FTSE 100, Metlen has dropped from position 68 to position 80.
The market capitalization of Burberry, the well-known fashion brand, stands at £4.45 billion, ranking 90th in the FTSE 100.
For Marshall’s scenario on Metlen to materialize, the stock would need to fall to €38.2, corresponding to a market cap of €5.46 billion.
BN has previously reported that between €39 and €40, Metlen’s stock is ideal for aggressive buying.
In a hypothetical scenario where the critical technical support level of €38.2 is broken, Metlen would become a full-buy opportunity without any doubt.
At €55, Metlen’s share was indeed overvalued, but around €45, it represents a reasonable valuation.
We believe that Metlen’s capitalization will not drop as low as Marshall’s target, and if there is resistance against short-selling tactics, the fund will likely reduce or close its short positions.
Essentially, we are not worried about Marshall’s maneuvers; though it should not be underestimated, as it is a master of short-side speculation.
Credia + Aktor = €4 billion – €10 billion in the future
A long time ago, the Aktor management, under Alexandros Exarchou, stated that in the foreseeable future, the combined value of Credia Bank (formerly Attica Bank) and Aktor would reach €4 billion — and that has now happened.
In two to three years, the market capitalization of these companies could reach €8–10 billion.
Of course, nothing can be ruled out, but it should be clarified that intrinsic value and market value are not the same. The base scenario, however, suggests that both Credia and Aktor are expected to perform strongly in the future.
Avax close to a deal
The construction group Avax is currently valued at €338 million, or €2.28 per share, and there are rumors that a major conglomerate is in exploratory talks for a potential deal.
This major group has been in the spotlight recently.
Although Avax has often been the subject of speculation in the past, the company is now in a better position: with healthy cash reserves, new project wins, and stronger balance sheet conditions overall.
www.bankingnews.gr
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