Patrick Drahi’s Altice is looking to take complete control of the French telecoms group SFR.
The company has tabled an offer for the 22.25% in SFR Group it doesn’t already own, worth around €2.4 billion. The exchange offer of 8 new Altice NV class A shares for 5 SFR Group shares has been tabled with the French Autorité des marchés financiers (AMF).
It said the offer would “simplify the group’s ownership structure and enhance its organisational flexibility”.
The transaction, which will complete in the autumn, still requires the approval of the French AMF and the Netherlands Authority for the Financial Markets.
It has however been unanimously approved by the Board of Directors of Altice.
The SFR portfolio includes the former Numericable portfolio.
