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.