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Patrick Drahi buys Altice Europe at its lowest

2020-09-12T06:16:53.851Z


The main shareholder of SFR wants to withdraw the holding company from the Amsterdam Stock Exchange. An operation of 2.5 billion euros.


Grow with the help of investors, then take over the company.

Since his beginnings in cable at the end of the 1990s, Patrick Drahi has brilliantly carried out this strategy.

The announced delisting of Altice Europe (which controls SFR, Portugal Telecom, Altice Dominicana, Hot and in the media NetxRadio and Teads) is fully in line with this logic.

Read also:

Patrick Drahi and the jackpot of the Champions League

The founder of Altice is preparing to spend 2.5 billion euros (4.11 euros per share, i.e. a premium of 16.5% compared to the average of the last three months) to buy back the shares listed on the Amsterdam Stock Exchange, or half of the securities.

He owns the other half, with 76% of the voting rights.

“The stock market prices of telecom operators are low, while their operational performance is rather good.

Patrick Drahi buys at a low price a company that is starting to function well again

,

summarizes Sylvain Chevallier, partner at BearingPoint.

Unlike other sectors, telecoms held up well during the lockdown.

Unlike other sectors, telecoms held up well for

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Source: lefigaro

All news articles on 2020-09-12

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