Technicolor shares surge on hopes of new box deal

Vantiva SA

03/10/2018 12:23

PARIS, Oct 3 (Reuters) - Shares in French digital production
company Technicolor  TCH.PA  surged on Wednesday, which traders
and fund managers attributed to speculation it could win a deal
to make a new boxset product.
    Technicolor shares were up 15.4 percent in late session
trading, the top performer on the Paris SBF-120  .SBF120  index,
although the stock remains down nearly 60 percent in 2018 partly
as a result of a spate of weak results.
    Nicolas Cheron, research director at Binck, said
Technicolor's rise was due to a report on specialist industry
website GeekBench that Bouygues Telecom  BOUY.PA  had chosen
Technicolor to make a new boxset product.
    Other traders and fund managers also attributed
Technicolor's stock price rise to the GeekBench report.
    Bouygues Telecom and Technicolor declined to comment on the
report.
    Technicolor, which makes video devices, modems, routers and
other products, issued four profit warnings last year when it
was hit by rising production prices.

 (Reporting by Gwenaelle Barzic and Blandine Henault;
Editing by Sudip Kar-Gupta)
 ((sudip.kargupta@thomsonreuters.com; +33 1 49 49 53 84;))