Jefferies notes that Magnum Ice Cream shares spiked following headlines of potential interest from private equity companies about an approach in the second half of this year, though the analyst does not see such continued review by such companies as a surprise. However, he firm thinks tax related risks \"make any such transaction unlikely (not impossible)\" until the first half of 2028 as it broadly estimates the tax liability could be about EUR 1.5B, independent of who were to acquire the company. Jefferies has a Hold rating and EUR 13 price target on Magnum shares.
