|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||21.00 - 21.32|
|52-week range||11.61 - 28.48|
|Beta (5Y monthly)||1.22|
|PE ratio (TTM)||N/A|
|Earnings date||30 Jul 2020|
|Forward dividend & yield||N/A (N/A)|
|Ex-dividend date||07 May 2020|
|1y target est||28.04|
PARIS (Reuters) -France's Lagardere has agreed to loosen its top executive's grip on the group to appease powerful investors circling its prime assets such as Paris Match magazine and Europe 1 radio. The conglomerate, which also owns the large publishing house Hachette, extended Arnaud Lagardere's tenure at the helm whilst reducing his influence, as part of wider changes to the group's arcane governance structures. Powerful shareholders such as Vivendi billionaire Vincent Bollore and LVMH luxury goods boss Bernard Arnault will get to nominate board members as part of the shake-up, which was announced on Wednesday.
French media and publishing firm Lagardere reported on Tuesday a 29.8% drop in first-quarter revenue on a like-for-like basis as coronavirus-related restrictions on travel in Europe weighed. The company said sales in is travel retail business were down by 56.1% in the first quarter. "Pending the beneficial effects of the vaccination campaigns, first-quarter 2021 revenue closely mirrored trends in air passenger traffic", Lagardere said in a statement.
Two of France's richest businessmen are close to a deal over media and publishing company Lagardere that would hit pause on their attempts to cherry-pick its assets for several years, three sources close to the discussions said on Sunday. Vincent Bollore, the top shareholder in Lagardere via his Vivendi group, and luxury goods tycoon Bernard Arnault, also a Lagardere investor, have been at the centre of a tussle over the firm and its influential media outlets for months. The saga has transfixed top political circles in France a year ahead of a presidential election, with some in President Emmanuel Macron's camp fearing that Bollore could seize assets like Lagardere's Europe 1 radio and build up a powerful ring-wing outlet that would go against his campaign.