Worldline fell on the stock market and dropped out of the CAC 40, facing very upset shareholders

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Electronic payments specialist Worldline will gather its shareholders for a general meeting this Thursday, June 13, in a tense climate following its stock market plunge and exit from the CAC 40.

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– Worldline faces a revolt from activist fund Bluebell Capital Partners, backed by fellow shareholder Harris Associates.

Electronic payments specialist Worldline is gathering its shareholders for a general meeting this Thursday, June 13, in a tense climate after several quarters of disappointment. Crash, stock market crash, exit from the CAC 40, bills in the red, exit plans… nothing has been spared for French payment service provider Worldline over the past nine months. The company is also facing an activist fund revolt, Bluebell Capital Partnerssupported at the beginning of the year by another shareholder, Harris Associatesaccording to the diary World.

To ease tensions with its shareholders, Worldline announced on March 21 a tightening of its board, from 15 to 12 members, except for 2 salary administrators. The company will propose an option to its shareholders for a vote this Thursday Wilfried Verstraetethe former head of credit insurer Euler Hermes to replace current interim president Georges Pauget, who took over from Bernard Bourigeaud, who died last December.

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Partnership with Visa

The deputy CEO of Crédit Agricole SA, a listed company of Crédit Agricole, will also be proposed as a director of the former Atos subsidiary, Olivier Gavalda. Following the announcement of a joint venture in April 2023, ties between Worldline and Crédit Agricole strengthened at the start of the year thanks to a capital increase by the French payments specialist bank. CEO speech Gilles Grapinet it is also eagerly awaited by its shareholders. He is due to discuss the savings plan decided at the start of the year, which affects up to 8% of the 18,000 workforce worldwide, or around 1,400 people, and recent activity announcements.

For example, Worldline announced on May 14 a partnership with Visa for issuing its first virtual cards for online travel agencies. But the company, which is paid by commissions from its customers’ payments, still faces headwinds in its core business. Indeed, inflation has benefited some sizeable retailers, such as the “hard discount” players, who are less profitable for Worldline. And the stock price is looking to take off from an all-time low on Oct. 25 after the release of third-quarter 2023 financial results. The action ended on Wednesday at 11.51 eurosthree times less than a year ago and very far from the peak reached in the summer of 2021, above 85 euros.

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