Lagardere lifts his stake

Topper believes shares undervalued

PARIS — Arnaud Lagardere, topper of French media and industrial group Lagardere, has put his money where his mouth is and upped his stake in the group from 5.45% to 7.16%.

Analysts see the buy-up as the topper’s attempt to demonstrate his belief that the group’s shares are consistently undervalued.

Lagardere did not need the extra shares, as he controls the group not through his stake but via a legal mandate. Furthermore, he already owned a large enough stake to keep an initial public offering from becoming an issue.

Lagardere announced in September his intention to increase his participation and actually bought the shares on Thursday, although the company did not announce the buy-up until Tuesday. His voting rights in the company rose from 6.96% to 8.55% as a result of the move.

Move did not substantially alter the share price: Lagardere closed up E0.50 to E58 ($74.90) on the Paris Bourse on Tuesday.

More Scene

  • National Comedy Center Set To Open

    National Comedy Center Set To Open During Lucille Ball Fest

    PARIS — Arnaud Lagardere, topper of French media and industrial group Lagardere, has put his money where his mouth is and upped his stake in the group from 5.45% to 7.16%. Analysts see the buy-up as the topper’s attempt to demonstrate his belief that the group’s shares are consistently undervalued. Lagardere did not need the […]

  • Carter Hudson, John Singleton, Angela LewisFX's

    John Singleton on Disney-Fox Deal: 'You Gotta Let FX Be What It Is'

    PARIS — Arnaud Lagardere, topper of French media and industrial group Lagardere, has put his money where his mouth is and upped his stake in the group from 5.45% to 7.16%. Analysts see the buy-up as the topper’s attempt to demonstrate his belief that the group’s shares are consistently undervalued. Lagardere did not need the […]

  • Kevin Durant Lindsey Vonn

    Kevin Durant, Lindsey Vonn to Keynote Variety's Sports & Entertainment Breakfast

    PARIS — Arnaud Lagardere, topper of French media and industrial group Lagardere, has put his money where his mouth is and upped his stake in the group from 5.45% to 7.16%. Analysts see the buy-up as the topper’s attempt to demonstrate his belief that the group’s shares are consistently undervalued. Lagardere did not need the […]

  • Cher and Meryl Streep'Mamma Mia! Here

    How the Cast of 'Mamma Mia! Here We Go Again' Geeked Out Around Cher

    PARIS — Arnaud Lagardere, topper of French media and industrial group Lagardere, has put his money where his mouth is and upped his stake in the group from 5.45% to 7.16%. Analysts see the buy-up as the topper’s attempt to demonstrate his belief that the group’s shares are consistently undervalued. Lagardere did not need the […]

  • Demi MooreComedy Central's Roast of Bruce

    Demi Moore Appears as Surprise Guest at Bruce Willis' Comedy Central Roast

    PARIS — Arnaud Lagardere, topper of French media and industrial group Lagardere, has put his money where his mouth is and upped his stake in the group from 5.45% to 7.16%. Analysts see the buy-up as the topper’s attempt to demonstrate his belief that the group’s shares are consistently undervalued. Lagardere did not need the […]

  • Outfest Filmmakers Get Political, Issue Call

    Outfest Filmmakers Get Political, Issue Call to Action on Opening Night

    PARIS — Arnaud Lagardere, topper of French media and industrial group Lagardere, has put his money where his mouth is and upped his stake in the group from 5.45% to 7.16%. Analysts see the buy-up as the topper’s attempt to demonstrate his belief that the group’s shares are consistently undervalued. Lagardere did not need the […]

  • Bob Woodruff Foundation Acquires Veterans Org

    Bob Woodruff Foundation Acquires Veterans Org Got Your 6

    PARIS — Arnaud Lagardere, topper of French media and industrial group Lagardere, has put his money where his mouth is and upped his stake in the group from 5.45% to 7.16%. Analysts see the buy-up as the topper’s attempt to demonstrate his belief that the group’s shares are consistently undervalued. Lagardere did not need the […]

More From Our Brands

Access exclusive content