Spinoff Report
MTGB SS: Value Behind Segment Sale & Potential US Listing
While Modern Times Group MTG AB (MTGB SS) saw a -3% drop the day after its Q4FY19 and FY19 earnings report on February 6, 2020, the company still has positive catalysts ahead. The earnings drop was primarily due to a fallen-through partnership with Tencent-backed Huya, Inc. (China's game stream leader); however, two potential catalysts for MTGB include a US listing (which the management has been mulling over) and the sale of the online gaming segment. Read on for more.

  • Q4FY19 & FY19 Earnings Impacted by Failed Huya, Inc. Partnership / Misses Consensus & The Edge's Estimates
  • Potential Positive Catalysts: US Listing & Sale of Online Gaming Segment
  • Capital Markets Day Scheduled in NYC for US Listing on April 28, 2020
  • Gaming Segment Sale Worth ~SEK 5bn to 5.5bn / Partnership with ATVI & 5G Rollouts are Tailwinds
  • Target Price Maintained / MTGB SS is a Current Spinoff Model Portfolio Holding
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