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Altice Europe approves Drahi buy-back

January 8, 2021 12.35 Europe/London By Chris Dziadul

Altice Europe’s shareholders have at an EGM approved Patrick Drahi’s buy-back of the remaining shares in the company.

Les Echos reports that seven points were of the agenda at the meeting, five of which were submitted to a vote.

It adds that Alain Weill, CEO of Altice France and a major shareholder, will receive $6 million and Drahi, following the buy-back, will be able to withdraw Altice Europe from the Stock Exchange.

Drahi previously increased his initial offer of €4.11 per share to €5.35.

Although shareholders representing 95% of Altice Europe’s capital have to sell their shares to Drahi before January 21, an EGM vote will now allow him to buy the company even if the 95% threshold is not reached.

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Filed Under: Newsline Tagged With: Altice Europe, Patrick Drahi Edited: 8 January 2021 12:35

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About Chris Dziadul

Chris is our Central & East Europe Editor. You can talk to Chris on Twitter @chrisdziadul or by email at cdziadul@broadbandtvnews.com

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