Subject: Re: OT: Hershey
One area of concern is Nestle’s gradual reduction in L’Oreal stake. Many investors had hoped Nestle would retain or increase L’Oreal stake. L’Oreal is very profitable and has better growth prospects and higher valuation than the rest of Nestle. Maybe the reduction in PE reflects the reduction in look through growth.

https://www.nestle.com/ask-nes...