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Patrick Drahi

Drahi ups BT stake

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 […]

May 23, 2023

Bank: “Eutelsat in the balance”

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 […]

January 5, 2022

Altice ups BT stake

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 […]

December 14, 2021By Colin Mann

Belmer leaving Eutelsat

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 […]

October 21, 2021By Chris Forrester

Bad news is good news for Eutelsat shares

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 […]

October 21, 2021

Does Drahi have Plan B for Eutelsat?

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 […]

October 6, 2021

More bidders for Eutelsat?

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 […]

October 5, 2021

Bank reduces Eutelsat’s revenue forecasts

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 […]

October 4, 2021

Drahi eyes Eutelsat acquisition

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 […]

September 30, 2021By Chris Forrester

Altice takes 12.1% BT stake

Altice UK, a business wholly owned by telecoms entrepreneur Patrick Drahi, has acquired a 12.1 per cent equity stake in BT Group for a reported £2 billion (€2.3bn). Responding to a ‘Holdings in Company’ announcement following the acquisition, BT issued a statement regarding the investment. “BT Group notes the announcement from Altice of their investment […]

June 10, 2021By Colin Mann