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    ATC   NL0011333752

ALTICE EUROPE A

(ATC)
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French telecoms stocks fall after Barclays downgrades sector

03/05/2019 | 05:24am EST
FILE PHOTO - The logo of Barclays bank is seen at its office in the Canary Wharf business district of London

PARIS (Reuters) - French telecom stocks fell on Tuesday after British bank Barclays downgraded the sector.

Altice Europe slumped 5.9 percent, while Iliad fell 3.1 percent as Barclays cut its rating on those stocks to "underweight" and "equal weight" respectively, while Bouygues and Orange shares also retreated as after Barclays cut its price targets on those two stocks.

"After an irrational level of promotions in 2018 that brought market 'ROCE' (return on capital employed) to 5 percent, prolonged market repair is needed to protect the revenue base," wrote Barclays in a note.

"The competitive environment is improving since Q3 2018, yet sustained discipline is uncertain. In-market consolidation is the best option, we believe, but appears unlikely short-term," added Barclays.

(Reporting by Sudip Kar-Gupta, Patrick Vignal and Michal Aleksandrowicz)


ę Reuters 2019
Stocks mentioned in the article
ChangeLast1st jan.
BASE CO., LTD. -2.83% 4125 End-of-day quote.-32.93%
BASE, INC. -7.52% 664 End-of-day quote.-65.98%
BEST INC. -11.82% 0.83 Delayed Quote.-57.84%
BOUYGUES -0.86% 29.88 Real-time Quote.-11.20%
ILIAD 0.00% 182 End-of-day quote.8.27%
ORANGE -1.21% 9.19 Real-time Quote.-5.60%
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Altice Europe A Technical Analysis Chart | ATC | NL0011333752 | MarketScreener
Managers and Directors
Patrick Drahi President & Executive Director
Malo Pascal Jean-Pierre Corbin Chief Financial Officer
Jurgen van Breukelen Chairman
Armando Pereira Chief Operating Officer
Thierry Sauvaire Independent Non-Executive Director
Sector and Competitors