The “castle” of Piraeus, the “silent” streak of OTE and the “magic wand” of D. Koutsoliutsos – Economic Postman – 2024-04-08 03:28:09

· Those who entered the Piraeus placement at 4 euros should not be very happy.

· Especially the minority shareholders.

· We are not talking about the long only funds, and the large institutional portfolios, which absorbed 80% of the shares allocated from the placement.

· The stock loses more than 8% from the milestone and is heading towards the next support at €3.60.

· There he must react, according to analysts.

· Otherwise the decline will accelerate.

· Of course, foreigners give it much higher prices, reflecting the recent strong financial performance of the bank and the new management guidance.

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Why OPAP is characterized as a “high yield bond”

· Eurobank Equities confirmed the “bond” character of OPAP.

· OPAP, as he recalled, has distributed an average of 1.6 euros per share in the last 3 years (a return of approximately 12%).

· And it looks set to return another 30% or so of its capitalization overall in the three years to 2026.

· Thus, it is a “high-yield bond”, reports Eurobank Equities, giving a target price of €17.90.

· But with an asterisk.

· The possibility of price appreciation will come from the re-evaluation and the options of renewing the licenses.

· After all, retail activities depend on disposable income and online dynamics depending on market share dynamics and marketing intensity.

· For 2024, OPAP has many drivers in top line growth, including continued product upgrade (e.g. launch of Eurojackpot).

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OTE’s quiet streak… ran out of fuel

· OTE broke its three-day bullish streak, but not with… noise.

However, recently the stock provides a small relief after many months of “suffering” to small shareholders.

· Although it cannot break through 14 euros, it has at least stabilized above 13.50 euros.

· Perhaps something has changed in the Organization’s narrative, as everything indicates that it will get the rights to the Champions League, at a much lower price compared to the previous three years.

· Contracts in other countries, such as England, also helped, leaving room for price reductions.

· The relevant signatures are expected in April.

· Also, on the Romanian front, we will have news from June, as we learn.

· Then the Competition Commission of the country will announce its decisions.

· A decision expected, after all, since the sale of Telekom Romania Mobile is underway.

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The “magic tricks” of D. Koutsolioutsos

· Yesterday’s apologies by Dimitris and George Koutsoliutsos in the trial for the Folli Follie case caused various reactions.

· We remind you that these are the main defendants for the biggest scandal – as characterized by a large portion of the press – in the modern history of the country.

· Some even… mockingly commented on the report of the company’s founder, D. Koutsolioutsou, that he would find a way to get the company back on its feet, attracting investors (!).

· “Only with a magic wand would this happen…” they noted wryly, adding that he himself admitted to “teasing” Folli Follie’s balance sheets

· The apology of Tzortzis Koutsolioutsos, son of Dimitris Koutsolioutsos, also caused mixed impressions.

Mainly because he claimed that he felt that his father had the first and last word and that he “felt that I was not being heard”…

· Today’s deposition is awaited with particular interest, since the accused is going to be referred to the Asia sub-group, which is alleged to be the “mother” of the great fraud…