Patrick Drahi’s Altice has bought 5.21% of SFR off-market after regulator AMF blocks public offer.
The move, paid for in existing Altice shares on the basis of eight new Altice class A shares for five SFR Group shares, comes less than a fortnight after the French regulator AMF blocked its public offer at that same price for the entire outstanding minority of shares in the business.
Following settlement of these transactions, Altice will hold directly and indirectly 82.94% of the capital
and 82.93% of the voting rights of SFR Group, with the remaining shares floating on the Paris Stock Exchange.
