1059 GMT - Societe Generale's Romania business, BRD, isn't valued by the market, Jefferies says in a research note. Owning the Romanian bank is not advantageous for the French bank and it would make sense for Societe Generale to look at options for the unit, Joseph Dickerson and Theo Massing write. They point to comments from the CEO of KBC who said the Belgian bank is exploring acquisitions in Central Europe, including Romania. SocGen has been reducing its geographic reach, exiting African markets and selling units, dismantling the empire put together by previous management in the past decades. "Some businesses from this era linger with questionable synergies to the group, despite being well run and generating respectable returns on equity," they note. Shares trade at 36.81 euros and are up 70% on a 12-month basis. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
February 14, 2025 05:59 ET (10:59 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.