Altice has upped its stake in France-based SFR Group, as it looks to tie up full ownership of the subsidiary it acquired in 2014.

The company said it had now amassed 95.9 percent of SFR’s share capital and voting rights.

Next month, Altice plans to buy out SFR’s remaining shareholders by offering €34.50 per share in a so-called squeeze-out.

According to French law, SFR’s directors must to provide a view on the fairness of this offer based on an independent financial report.

Altice was unsuccessful in its attempt late last year to buy the remaining shares it did not own after the French regulator blocked the move.

Last November, the French competition authority handed Altice an €80 million “gun-jumping” fine over its initial acquisition of the company.

SFR saw sales fall 0.4 percent to €2.76 billion in the three months to June.

Adjusted EBITDA was also down, by 4.6 percent to €953 million, after the company spent a significant, although undisclosed, amount of money on acquiring exclusive rights to UEFA Champions League and UEFA Europa League football.

The operator added 34,000 retail mobile customers, but lost 16,000 subscribers during the period, as it battles Bouygues, Free and Orange in an ever competitive French market.

The SFR name is set to disappear next year as Altice rebrands all of its opcos under one global identity.

Read more: Altice expects former Microsoft man to excel as new CMO

More News

Iliad enters content game in France, finally launches Italian mobile business Iliad enters content game in France, finally launches Italian mobile business Iliad has acquired football rights in France and launched its opco in Italy as it looks to reboot after a disappointing set of financial results. More detail
Three UK appoints new CCO, CFO Three UK appoints new CCO, CFO The departure of Three UK's Chief Commercial Officer after just 18 months in the job has triggered a shake-up of the mobile operator's top team. More detail
TalkTalk to sell enterprise customer base to Daisy as it registers full-year loss TalkTalk to sell enterprise customer base to Daisy as it registers full-year loss TalkTalk has agreed to sell 80,000 business customers to rival Daisy Group in a £175 million deal. More detail
A1 Telekom Austria Group rebrand reaches Bulgaria A1 Telekom Austria Group rebrand reaches Bulgaria Bulgaria is the third A1 Telekom Austria Group opco to get rebranded as the telco looks to market itself as a provider of "advanced" IT, IoT, cloud and content services. More detail
Orange Business Services puts IoT to use on saving ships’ fuel costs Orange Business Services puts IoT to use on saving ships’ fuel costs Orange Business Services has expanded its work with Dobroflot by developing a customised IoT solution for the Russian fishing company. More detail
    

 

European Communications is now
Mobile Europe and European Communications

  

From June 2018, European Communications magazine 
has merged with its sister title Mobile Europe, into 
Mobile Europe and European Communications.

No more new content is being published on this site - 

for the latest news and features, please go to:
www.mobileeurope.co.uk 

 

@eurocomms