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France’s Geodis traditionally attracts all sorts of M&A rumours, with its management team often coming up lately in private conversations that always end with “so then who is its next acquisition target?”

SNCF tree

The French logistics behemoth, part of state-owned national rail company SNCF, is adamant that chasing inorganic growth is the way forward, but the silver bullet could be a different shareholding structure before M&A opportunities are pursed.

A partial spin-off, aimed at listing, say, a 45% Geodis stake, ...

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