Publigroupe shareholders react euphorically
Publigroupe shareholders reacted euphorically to the sale of its Publicitas subsidiary. Publigroupe shares jumped by a whopping 27.2 percent by 11 am.
Since the beginning of the year, the share price has risen by 17.8 percent, after diving by a total of 37.9 percent in 2013 as a whole. The overall market as measured by the Swiss Performance Index (SPI) was up 0.3 percent on Wednesday morning. For Zürcher Kantonalbank, the Publicitas sale clears the way for a higher valuation. Analysts welcome the sale and expect a strong positive share price reaction.
The German investment company Aurelius takes over Publicitas with all 39 associated companies in Germany and abroad as well as the 49 percent stake in Xentive (Werbewoche.ch reported). It is paying a low double-digit million amount, as announced on Wednesday morning. All of the approximately 860 employees and all contractual obligations, in particular to media providers, advertising clients and agencies, will transfer to the new owner. (SDA)
Teaser image: Screenshot Cash.ch
