Altice to centralise operations, launch new content cos, acquire last SFR shares

Altice, SFR

Altice is to centralise a range of functions and launch new content businesses as it looks to unify the performance of its various subsidiaries.

The company also announced plans to acquire the remaining 22.25 percent of SFR that it does not currently own.

It said its “core strategic, operational and technical capabilities” would be made available to its subsidiaries in a more centralised way.

It cited leveraging IT platforms, branding and marketing, delivering technology services from its Altice Labs arm, and simplifying procurement processes as examples.

Expanding its media and digital content businesses – it acquired a 49 percent stake in French broadcaster NextRadioTV in April – and developing, launching and integrating new products, services and business models are also aims of the new strategy, it said.

To boot, it revealed plans to launch Altice Studios, which will create original movies and series, and Altice Channel Factory, to create new, unspecified channels.

The company also revealed it was “contemplating” the implementation of new remuneration models, without providing details.

It did confirm, however, that it plans to buy network company Parilis and customer services company Intelcia.

CEO Michel Combes said: “We are proud to further advance our Group transformation.

“Altice has been providing critical strategic and operational support to its subsidiaries enabling them to compete very successfully in their respective markets.

“As we have significantly grown in size and invested into new markets over the last two years, we are focused on ensuring that the entrepreneurial, innovative DNA and operational excellence at the core of the Altice model continue to benefit our businesses in the most optimal manner while taking full advantage of the global scale of the Group.

“Our updated strategy will significantly strengthen our subsidiaries and put them into an even better competitive position to provide our customers with best-in-class services across all of our markets.”

Meanwhile, Altice has outlined how it plans to acquire the remaining 22.25 percent of shares in SFR that it does not already own.

Shareholders are being offered eight Altice class A shares for five SFR Group shares.

This amounts to Altice offering €2.4 billion or a 2.6 percent premium on the closing price of SFR’s shares on Friday.

The public offer, which has been approved by the boards of Altice and SFR, opens on the 22 September and closes on 20 October.

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