Bollore, the French conglomerate holding company controlled by Vincent Bollore has always traded at a significant discount to the value of its holdings. Part of it is attributable to the “standard” conglomerate discount of ~20% which
Buy Bollore For Upside From Bill Ackman's SPAC Deal For Universal Music Group
Summary
- WSJ reported today that Bill Ackman’s Pershing Square Tontine is nearing a ~$42B EV SPAC deal for Universal Music Group.
- Bollore has a ~22% ownership stake in Universal Music Group through its 27% ownership of Vivendi.
- Bollore is trading at a wide discount to its implied intrinsic value.
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