Drops after withdrawing dividend, outlook

RTL SA

03/04/2020 07:46

** Frankfurt-listed shares in RTL Group  RRTL.F  are down
11% in early trade after the European broadcaster scraps its
2020 outlook and its dividend proposal for 2019  urn:newsml:reuters.com:*:nFWN2BQ122
    ** The company expects cancellations of advertising bookings
and postponements of productions to negatively impact its
results in the coming months
    ** Local trader says the harsh share price reaction may be
overdone as it is common nowadays for companies to keep their
liquidity and protect business and people
    ** The trader adds a steep share price decline would
probably mark a buying opportunity

 ((Veronica.snoj@tr.com))