Investment fund Altice has agreed to buy additional shares in French cable operator Numericable from private equity funds Cinven and Carlyle Group. This would increase its stake to 40 per cent from 30 per cent. The operation, which will give Altice a majority of votes on Numericable’s board of directors, is expected to be completed in the first quarter of 2014.

The acquisition is subject to antitrust approval and a waiver granted by French financial market authority AMF to file a mandatory tender offer. Under French law, a shareholder would normally be required to launch a bid for all of a company’s shares after exceeding a 30 percent shareholding. Altice said that after the acquisition Numericable would continue to provide quarterly reports and public disclosure to its other shareholders.

Other posts by :

1. NAB vs CTIA on C-band release
2. Laser terminals to operate at 100x faster
3. Starlink success in Spain, but South Africa proves difficult
4. RocketLab doubts over Mynaric bid
5. IRIS2 free for government usage?
6. Bank: AST SpaceMobile will orbit 356 satellites by 2030
7. SpaceX launches 600th rocket
8. Starlink: 10m customers and counting
9. SES predicts end of ‘big’ Geo satellites

Categories: Articles, Business, Cable, M&A