December 3, 2018 / 8:09 AM / 9 months ago

Nestle says L'Oreal stake is 'active on the board’s agenda': FT

FILE PHOTO: Nestle Chairman Paul Bulcke speaks during the opening of the 151st Annual General Meeting of Nestle in Lausanne, Switzerland April 12, 2018. REUTERS/Pierre Albouy

ZURICH (Reuters) - Nestle (NESN.S) Chairman Paul Bulcke said the food giant’s stake in French cosmetics firm L’Oreal (OREP.PA) was “something active on the board’s agenda” in an interview with the Financial Times published on Monday that could trigger a fresh round of speculation.

Nestle is under pressure from New York-based hedge fund Third Point, run by investor Daniel Loeb, to overhaul its business and sell its stake in L’Oreal.

Asked whether Nestle would consider allowing Third Point on its board, Bulcke declined to answer, the FT reported. “We are open to all ideas and then we judge what is best for the company,” he said. 

Reporting by Silke Koltrowitz

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