Reuters reports. The French publisher's shares closed at €66.64 last Friday.
We checked with analyst extraordinaire Michael Pachter to find out what this stock split means. Poking his head up from charts and graphs – flicking his abacus a few times just for show – he simply said, "It's not really a big deal." Pachter explains that commissions are higher if an investor buys fewer than 100 shares so: 100 shares at €65 requires €6500 in funds, or around $10,000. Since individual investors don't like investing that much in a single stock, by splitting the stock, the cost of 100 shares is cut to around $5000.
That explained, Pachter turned his attention with giddy anticipation to the crystal ball he just received from Mystics 'R' Us in Eastern Europe and concluded, "It's really that simple."