The media and telecoms group Altice announced Monday, September 5 have filed with the Financial Markets Authority (AMF) a public exchange offer (OPE) to seize the 22.25% stake the operator SFR that it does not already own.
This OPE, whose goal is the statement of Altice “to simplify its capital structure and strengthen its organizational flexibility” would occur ” on the basis of 8 new shares Altice NV class A for 5 SFR Group shares tendered. “
” the terms of the proposed transaction have been unanimously approved by the boards of Altice NV and SFR Group, including all independent directors of SFR Group, “the text.
” the proposed transaction is expected to close in the fourth quarter of 2016, is still subject to the approval of the AMF and the Dutch Financial Markets Authority, “said Altice.
no minimum acceptance threshold
This exchange offer is also subject to no minimum acceptance threshold.
if all SFR shareholders accept the deal, the maximum number of shares to be issued Altice “represent 11.8% of total shares outstanding common class A and class B Altice NV “explains the release.
Among the advantages of the small shareholders SFR figure” diversification on the fastest growing markets structurally carriers Altice and which enjoys a strong position, especially in the US market “, where he has completed the acquisition of cable operator Cablevision.
the group of Patrick Drahi, based in Amsterdam, recorded a decrease of 1.07% of its turnover from January to June to 11.72 billion euros, reflecting mainly the decline in SFR sales that ended the half with a net loss of 84 million euros.
(with AFP)
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