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General

Altice acquires 5.21% of SFR after watchdog blocks buyout

Friday 14 October 2016 | 11:14 CET | News
Altice has announced an agreement to acquire 5.21 percent of the shares in its French subsidiary SFR Group to raise its stake to 82.94 percent of SFR's capital. The private off-market transaction will be paid by exchanging 8 Altice shares for 5 SFR Group shares, said Altice. Earlier this month, French stock market regulator the AMF (Autorite des Marches Financiers) ruled against Altice's buy-out offer for the 22.25 percent of SFR shares it did not already own. Altice CEO Michel Combes agreed to withdraw the public offer even though he described the AMF's decision as "incomprehensible".

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Categories: General
Companies: Altice Europe / SFR
Countries: France
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