SFR redemption by Altice: “And it is not over!” – Point

In 2014, Numericable had bought SFR, through its Dutch holding Altice. ” And it’s not over ! , “As the operator of the pub group Patrick Drahi announced Monday morning will redeem the 22.25% stake in SFR that it does not already own, in order” to simplify its capital structure and strengthen organizational flexibility. ” In short: Altice wants to reassure its investors, and plans for it to fully control his new trump card, SFR

Leaded by a debt of 50 billion euros, the empire of media and telecom. Patrick Drahi wants to launch a public exchange offer (OPE), “on the basis of 8 new shares Altice NV class a for 5 SFR group shares tendered,” the statement from the group.

“Good time”

“The offer comes at the right time”, while “the recovery of SFR will accelerate in the coming quarters through lower costs, trade policy and the effect of investments in the network, “said an ING analyst quoted by Bloomberg. Meanwhile, the indicators are not green for SFR, who finished the half with a loss of 84 million euros, and has just been taken by Free, her second fixed operator in France after Orange instead.

“the proposed transaction is expected to close in the fourth quarter of 2016, is still subject to approval by the AMF and the Dutch financial markets Authority,” the release of Altice, who insisted that the operation was approved by the boards of both companies, including the independent directors of SFR. This announcement has boosted the title SFR Group of more than 6% on Monday morning at the Paris Bourse: good news bringing a halt to a 45% decline on a year

Installed. Amsterdam, the Altice group has increased its acquisitions – and debt – in recent years by taking control of SFR, Libération , Express or, more recently, US cable operator CableVision.