Getlink has gained more than 2%, on the back of an upgrade by Oddo BHF from 'neutral' to 'outperform', with a price target raised from 16 to 20 euros, in its note in which it mentions the idea of a merger with Eiffage.

'Eiffage is underperforming and seems to us to be paying for the lack of a structuring acquisition. To change status, Spie and renewable energies can wait, the chosen one is Getlink...', explains the analyst.

While acknowledging that 'the equation for taking control of Getlink remains complex', Oddo BHF believes that an ambitious solution would be to convince Getlink of a merger of equals in the form of a 'reverse takeover' project.

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