Billionaire Patrick Drahi, founder and majority shareholder of Altice Europe (SFR, RMC, BFMTV ...), will hold 92.02% of the group's capital following the share buyback operation he had launched, with the aim of removing the title from the Stock Exchange.
"
About 90.89% of the shares that were not yet held by the buyer were delivered
" during this operation, for an amount of 3.1 billion euros, indicates Friday Altice Europe in a press release.
Read also: The discontent of SFR customers in the face of price increases
Payment for the shares, sold at a unit price of 5.35 euros, will take place on January 26, which will immediately remove Altice Europe's stock from the Amsterdam Stock Exchange, where it was previously listed.
This operation allows Patrick Drahi to control “
95.11% of listed shares and around 92.02% of the total capital of Altice Europe
”, the document specifies.
A time disputed by some minority shareholders, Patrick Drahi, who previously held 77.6% of the group's capital, succeeded at the end of December in rallying several investment funds by raising the price of his offer from 4.11 to 5.35 euros. by title.
Officially launched at the end of November, the operation, approved by the company's board of directors and validated by the financial regulator, was completed on January 21.
It should allow the group to more easily implement its strategy and better focus on long-term objectives, without having its quarterly performance scrutinized by the markets, explained the leader.
“
No longer being under the daily gaze of the financial markets will certainly remove a form of pressure and constraint of immediacy for the management of its activity.
This will certainly give it a little more latitude, in particular to manage its debt and its strategic projects
, ”Thomas Coudry, telecoms analyst for Bryan, Garnier & Co., told AFP.
To read also: Arthur Dreyfuss, the man in a hurry of Altice
The debt of Altice, whose European and American activities were separated in 2018, has long worried the markets.
That of Altice Europe, swelled by successive acquisitions, stood at 28.5 billion euros at the end of September.
