Rodolphe Saade, the French shipping tycoon has announced a deal to acquire French news channel BFM TV off Patrick Drahi’s debt-laden Altice group. Saade’s Marseille-based shipping company, CMA CGM, will acquire the French media unit of telecoms group Altice, which includes BFM TV as well as radio RMC, for €1.55 billion. The move will allow […]
Billionaire telecoms investor Patrick Drahi has increased his stake in dominant UK telco BT to 24.5 per cent from 18 per cent via his Altice UK investment unit – but reiterated that he does not plan a full takeover. “Altice UK has restated its position to the board of BT that it does not intend […]
Paris-based Eutelsat is in a period of significant change. Rodolphe Belmer has left and the satellite operator has appointed Eva Berneke to run the business. There’s also the small matter of a recent bid from Patrick Drahi to take a controlling stake in the business. All this has helped propel investment bank Berenberg to take […]
Patrick Drahi’s Altice has increased its interest in BT Group’s voting share capital from 12.1 per cent to 18 per cent. In a Statement, the telco said: “The Board and management of BT Group will continue to operate the business in the interest of all shareholders and remains focussed on the successful execution of its […]
Rodolphe Belmer, CEO at Eutelsat since 2016, is stepping down. He is joining French multinational information technology and consulting firm Atos as CEO. The move is seen as a probable end to the bid by Patrick Drahi to take control of Eutelsat. The news was broken by Atos on the evening of October 20th after […]
The Paris bourse share market responded exceptionally well to the potential bad news of Rodolphe Belmer’s departure from Eutelsat. In early trading Eutelsat’s share price rose a full 1 percent in early trading to €12.60 and matching its recent peak of €12.60 at the height of the Patrick Drahi unsolicited €3.2 billion take-over bid, and […]
Patrick Drahi might not have William Shatner in his portfolio of headline-grabbing assets, and rich as he is, Drahi certainly cannot compete with the likes of Elon Musk or Jeff Bezos in terms of cash-at-hand. But few will be surprised if Drahi doesn’t now come up with a Plan B to acquire Eutelsat. Certainly his […]
The bid for Eutelsat by businessman Patrick Drahi, rejected by the satellite company, might well trigger other bidders to enter the picture. Sami Kassab, equity analyst at investment bank Exane/BNPP, poses some interesting suggestions as to potential rival bidders to Drahi. Kassab argues that the key to anyone’s success in the validation of the bid […]
Investment bank Jefferies has adjusted its financial model for satellite operator Eutelsat currently in the middle of a potential takeover by telecoms entrepreneur Patrick Drahi. Jefferies reiterates its ‘BUY’ advice to clients although adjusts downward its share price target of €15.50 (from €18.00) although the operator’s share price has been somewhat overtaken since the Drahi […]
Telecoms tycoon Patrick Drahi, having earlier this month bought a large slice (12.1 per cent) of BT, has made a bid to buy Eutelsat. Drahi is said to have offered a €2 (17 per cent) premium over Eutelsat’s current €10.35 share price. Drahi controls the cellular and cable business Altice. A September 30th statement from […]