EVS says it does not know plans of rival and shareholder Evertz

Evs SA

26/10/2018 08:33

BRUSSELS, Oct 26 (Reuters) - Belgian broadcast and video
technology company EVS Group  EVSB.BR  does not know what
Canadian rival Evertz  ET.TO  plans to do after taking a 3
percent stake in EVS this week, the Belgian company's chief told
Belgian newspaper L'Echo on Friday.
    According to a filing published on Wednesday, Evertz now
holds 3.12 percent of EVS. On the same day, EVS issued
preliminary third-quarter figures and announced it would be
buying back 10 million euros of its shares.
    The news sent EVS shares up 19 percent on Thursday to 19.00
euros.
    "It's quite possible that Evertz intends to go far beyond
its 3 percent stake," EVS chairman and interim chief executive
Pierre De Muelenaere told L'Echo when asked if Evertz planned a
takeover. 
    Based on EVS's closing share price on Thursday of 19 euros,
the company has a market capitalisation of 259 million euros 
($295 million). Evertz's market capitalisation is three times
larger.
    ($1 = 0.8787 euros)

 (Reporting by Philip Blenkinsop; editing by Francesco Guarascio
and David Evans)
 ((philip.blenkinsop@thomsonreuters.com; +32 2 287 6838; Reuters
Messaging: philip.blenkinsop.thomsonreuters.com@reuters.net))