This a pre-experience masters without international accreditation. Only 3 of the 18 months are on finance, so I don't think this is will equal to a masters in finance. Job opportunities will be limited, since the course it aimed at international students who normally won't have French at a professional level.

I recommend one of the FT-ranked masters in finance degrees instead.

The MBA will neither help nor hinder your admission to a PhD, but there is an impressive opportunity to take an 8-ECTS research project. Francis Bidault, from ESMT, and his co-author Alessio Castello, from the IUM, are the research supervisors. If you want to take a PhD in their fields then that would be great. However, neither of them are finance specialists.

I would think about what kind of topics you'd like to research for your PhD (and where you'd like to do it). For example I have a friend doing his MSc in Quantitative Finance at EM Lyon, and he plans to pursue further research in that field afterwards.