Worldline taps advisers for defence strategy amid share slump –sources
16/01/2024 18:12
By Amy-Jo Crowley and Pablo Mayo Cerqueiro
LONDON, Jan 16 (Reuters) - Worldline WLN.PA has lined
up bankers to advise on a defence strategy in a bid to reassure
shareholders and avoid a hostile takeover in the wake of a share
price slump, two people with knowledge of the matter told
Reuters.
The Paris-based payments group is reviewing options with
Morgan Stanley MS.N and Rothschild & Co, including bringing in
an anchor investor to help support the stock, said the people,
who spoke on condition of anonymity.
In the last week the advisers started sounding out potential
investors, such as French financial institutions, pension and
sovereign wealth funds, about taking a minority stake in the
group, the people said.
A friendly takeover by a bidder acceptable to the French
government could also be explored should Worldline's actions
fail to restore confidence among investors, one of the people
said. A takeover at this point was unlikely, however, the
person added.
Worldline declined to comment.
(Reporting by Amy-Jo Crowley and Pablo Mayo Cerqueiro in
London; Additional reporting by Mathieu Rosemain in Paris;
Editing by Anousha Sakoui and Mark Potter)
((Amy-Jo.Crowley@thomsonreuters.com;))