Yesterday saw APT drop over 6% as it moves in line with US suitors Square (SQ US) overnight price gyrations plus it was announced to the market that a shareholder vote around the takeover had been pushed back until early 2022 due to delays with Spanish regulations. We are neutral APT but if the Square deal “falls over” – which is very unlikely – we can see 20% downside for APT hence its not one for us.
MM is neutral APT
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