Author Topic: BOL.PA - Bollore  (Read 43392 times)

awindenberger

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no_free_lunch

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Re: BOL.PA - Bollore
« Reply #42 on: January 22, 2017, 09:01:47 PM »
Thanks for the link.

FYI: Sumzero winner:

https://www.youtube.com/watch?time_continue=1&v=EbHYm0pa_P8

Notes:

- Trading at a 60%discount
- run by a fantastic capital allocator
- predicts NAV could double by 2019
- nav discount is typically 45-55% so a higher than average discount
- bulk of the value in african ports + global logistics
- ports high margin cap intensive
- $1b annual cash flow in ports/logistics
- african business is sensitive to commodities
- media divisions next in size
- universal music / vivendi


maybe more later, I got tired doing notes.

I took a position awhile back.  Still only 1%.  I think it's a good bet but the business is tough to predict.  Reminds me of a somewhat more stable SoftBank.
« Last Edit: January 22, 2017, 09:04:17 PM by no_free_lunch »

Scunny Bunny

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Re: BOL.PA - Bollore
« Reply #43 on: January 24, 2017, 05:53:43 AM »
If you agree - especially with the "unwind" idea towards the end - Financiere de L'Odet is at a 50% discount to Bollore's trading price & is listed - only 9% float trades at €790 a share. 4.25m shares & ~€330m of debt. Bollore is the most brilliant BULL MARKET 5 level 50% of 50% type control structure you've ever seen. I am long ODET.PA

no_free_lunch

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Re: BOL.PA - Bollore
« Reply #44 on: January 24, 2017, 06:45:05 AM »
Yes ODET looks very interesting indeed.  I just can't buy it in the US but definitely a bit better deal.

Jurgis

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Re: BOL.PA - Bollore
« Reply #45 on: January 24, 2017, 09:19:30 AM »
I just can't buy it in the US

I'm not sure why you think that.
"Before you can be rich, you must be poor." - Nef Anyo
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Jurgis

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Re: BOL.PA - Bollore
« Reply #46 on: January 24, 2017, 09:31:56 AM »
I guess a question about ODET is whether it's a PFIC. That would complicate any buying in US non-tax-deferred accounts.

BOL is likely not a PFIC since it has a bunch of operating businesses.
"Before you can be rich, you must be poor." - Nef Anyo
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"American History X", "Milk", "The Insider", "Dirty Money", "LBJ"

jeyfox

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Re: BOL.PA - Bollore
« Reply #47 on: January 25, 2017, 08:24:24 AM »
Hi,
the 2022 deadline (Vincent Bolloré (VB) will be 70 years old and is expected to transfer management to his children and the company will be 200 years old) can also be taken into account. I think that it is important to bear in mind that VB is also a little bit unpredictable and will do things at his own rythm. But in the end he is there to create value.
We will see how (and if) Havas is used to increase his stake in Vivendi.
VB is increasing his share withing Vivendi in a smart way: Vivendi has been repurchasing lots of shares which automatically improves his share count in Vivendi.
Cheers
Jeremy
Long Bolloré Galaxie.
http://foxcastleholdings.com
twitter: @FoxCastlehold

no_free_lunch

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Re: BOL.PA - Bollore
« Reply #48 on: January 28, 2017, 05:35:19 AM »
Thanks jeyfox.  I will probably be out for awhile if VB leaves.

Since we talk nothing but politics these days, thought I would bring in some french politics as well.  The leading right-wing leader is now staring at a criminal investigation which could force him to abandon his position.   If so, it changes the political situation considerably and you could be looking at a showdown between a far right party and a socialist party.  Bollore is international and honestly either party will be okay but just one more thing to track.  Was really looking forward to fillon's agenda.

Quote
France’s conservative party les Républicains will be without a Plan B if its presidential candidate, François Fillon, is forced to step down amid an ongoing scandal of alleged illegal payments to his wife.

Fillon is under growing pressure following this week's revelations in satirical French weekly Le Canard Enchainé that Penelope Fillon was paid around 600,000 euros in public salaries between 1998 and 2002. The newspaper alleges there is little evidence she did any work that would justify the payments.

Fillon, who denies the allegations and says his wife worked hard as parliamentary assistant, said he will step down as les Républicains' candidate if he has to face charges

http://www.france24.com/en/20170127-french-right-republicains-have-no-presidential-election-candidate-fillon-steps-down

Haasje

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Re: BOL.PA - Bollore
« Reply #49 on: January 28, 2017, 06:04:18 AM »
I really don't get how it seems to be a global phenomenom that there is always so much dirt to dig up on politicians.