MILAN, September 17 (Reuters) – World Duty Free is soaring in Piazza Affari on speculation about future mergers after the announcement of the CEO Jose Maria Palencia by the end of the year. “The output of the CEO can be seen as an acceleration imposed by the Benetton family towards integration with an industrial parter, a perspective which has been the basis for the division of Autogrill a year ago but that has not yet materialized” explains Banca Akros in a note. While other brokers believe that the press release in which it announced the departure of Palencia food speculation about possible operations M & A. In the note, the president of WDF, Gianmario Tondato, stressed the need for a renewed impetus “to the growth of the business both organically and through mergers with other operators.” “While agreeing with the basic objectives, however, have formed different opinions on how to implement the strategies that led to the company and the CEO to consider the possibility of separation,” he concludes. The next 2 October a Board consider the matter. Around 10.30 the stock rises 6.83% to 8.99 euro, catching up after the recent drop. Large volumes, already equal to about four times the daily average recorded in the last five sessions. Read more …
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