“…trigger for value release” ??
This matter is already settled!
Value has been leaking out of TietoEvry for many years now, and the trigger has been poor management and culture, etc. On that other forum, some Norwegian wrote quite aptly that the share price will fall as long as “de finske idiotene fortsetter å spre kreft i selskapet” — i.e., the Finnish idiots are spreading cancer in the company.
The value of Tech Services could be calculated, for instance, like this: if its operating profit is 80m€ and you subtract allocated financing costs of 20m€ (at least) and pay 20m€ in taxes (almost), the result is 40m€, and if the P/E ratio is ten, the price comes to 400m€.
But these are those “adjusted” figures… and adjustments have been made in four out of the last five years. So 400m€ might be too much, especially as revenue is declining, making a P/E of ten too high.
If they get 200m€, they can breathe a sigh of relief and continue towards new disappointments.