Bloomberg Audio Studios, podcasts, radio news, The.
Stock Movers Report, your roundup of companies making moves in the stock market. Harnessing the power of Bloomberg Data.
Let's take a look at some of the stocks on the move today in Europe. I'm Lizzie Burden alongside Stephen Carroll and were joined by Bloomberg's Breaking News editor Louise Moon. Louise, what should be watching?
So?
Firstly, one of the key ones watching this morning is Coca Cola HBC. So this is London listed company. It's one of the world's largest boslers for Coca Cola, the US giant. So they have announced this wanting they're buying a controlling steak in another bottler. This is Coca Cola Beverages Africa. That's for two point six billion US dollars.
They're buying a seventy five percent steak and then there's the option if they want to they can they can buy the remaining steak, the remaining twenty five percent within six years. And they're buying that from the US giant Coca Cola and another holder as well. So big deal within the space. It comes for Coke, the giant, the US Giant. It's part of their move away from the business of bottling, so they already sold their Indian operations
earlier this year. This is all kind of part of their attempts to they're trying to overcome waning demand, so there's less and less investment in bottling and really focusing on their core. And then for the bottlers, this combination will create the second largest bottling partner four coke by volume globally, so it's going to create a huge company. Although having said all of that, Cocoa HBC, the London
listed buyer, their shares did fall at open. They have spared some losses now, but initially fell over four percent that open, essentially because they're well it seems to be because and liston noting that they're canceling their share buybacks, so this is kind of a nod that they're focusing on expansion over capital returns and that option to buy that additional twenty five percent might kind of limit the
capacity of their balance sheet even further. So a slightly negative share price reaction to this big two point six billion US dollar deal.
Okay, so that's Coca Cola HBC. Let's go to Unilever now ice creams getting hit by the US government shutdown.
Indeed, a bit of an interesting ripple effect from the US government shutdown. So Unilever are pushing back the demerger of their ice cream unit, that's the Magnum ice Cream Company. It had been on track to complete in mid November, I think it was about November tenth, and then they were going to have a primary listing in the Netherlands
and secondary listings in London and in New York. But because of this government shutdown, the registration statement that it needs to be admitted in New York on the New York socket change that can't be declared as effective. So it's pushing back that demerger. They said that they're confident that the split will still happen this year, but timings are very much TBC. They're very much kind of up in the air, and it extends this long wait for UNI leave their first and outs plans to separate the
unit in March twenty twenty four. Last year, it's been you know, low underperforming, so getting rid of it or spinning it off is a large part of Unilever's revamped to revive their growth, so shares slightly dipped on the news, but as I say, they are still confident that it will happen.
Just finally.
Louise at Os slumping after its third quarter revenue missed estimates.
Indeedy Atos, the French IT company, SO shares were down initially about seventeen percent. As you say, third quarter revenue miss estimates. They lowered their revenue guidance for the year. They did in some positives. They pointed at some recovery in North America and Europe, but essentially they noted macron certainty, a soft market environment, environment, lost making contracts as some of the negatives that are pulling it down, pulling those revenues.
They're in the middle of a restructuring. So analysts is saying, you know, twenty twenty five, they'll they expect declines to continue and then twenty twenty six will be their pivotal year of recovery.
The Stock Mover's Report from Bloomberg Radio. Check back with us throughout the day for the latest roundup of company making news on Wall Street and for the latest market moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business app