Investors are worried about uncertainties looming over the Lagardere Group.

In a comment piece in La Tribune, Laurent Roussel, vice-director of research on derivatives at Exane Derivatives, says the Lagardere share has been under “excessive pressure” lately. The AMF probe into alleged insider trading at EADS heavily weighs on the media group, indeed, as investors judge there is a 50 % chance that Lagardere could be condemned to pay € 1.6Bn in compensation and fine to the French state within two years. Yet, analysts at Exane BNP Paribas play down this risk, saying the AMF should not issue its verdict until several weeks or even months and that an appeal would still be possible. Another source of uncertainty is the possible disposal of Lagardere’s holding in EADS. But this issue is not on the agenda, point out the analysts, as a short-term divestment would prove much complex. La Tribune