Altice increases Numericable-SFR stake
August 3, 2015
Multinational cable and telecommunications company Altice, founded by telecoms entrepreneur Patrick Drahi, has acquired 1,298,398 shares in French cable telco Numericable-SFR for some €64.6 million.
Altice’s March 2015 acquisition of Vivendi’s 20 per cent stake in the operator gave it a 70.4 per cent holding. The additional block represents some 0.3 per cent of Numericable-SFR’s share capital.
Separately, Altice announced that it today that it has completed the sale of the mobile assets of Outre-Mer Telecom in La Reunion and Mayotte to Hiridjee Group.
The transaction comes as a result of commitments taken by Altice before the French Antitrust Authority, l’Autorité de la Concurrence, upon the acquisition of SFR.
The purchase agreement was signed on June 23, 2015.