Patrick Drahi’s Altice Launches Fresh SFR Buyout Attempt
by David Meyer
The Netherlands-based telecommunications and cable company Altice has announced that it now has 95.9 percent of the shares in its French SFR subsidiary, and it wants to buy out the rest. ...
With SFR, Altice said it intends to file its buyout offer, with the French markets watchdog AMF next month. It's offering €34.50 ($40.38) a share. It will use the AMF's "squeeze-out" provisions to raise its stake to 100% if need be.
The company tried buying out the SFR shares it didn't already own last year, back when it only had a 78 percent stake, with the offer of a share swap. However, the regulator blocked the move because it was not giving minority shareholders enough information. Since then, Altice has been buying up SFR shares in private transactions.