Altice raises stake in SFR and plans full buyout offer

Reuters

PARIS, Aug 10 (Reuters) - Altice , the acquisitive
telecoms and cable group founded by billionaire Patrick Drahi,
has raised its stake in telecoms company SFR  to more
than 95 percent and is planning a full buyout offer for the
remaining shares.
    Altice said in a statement on Thursday that it planned to
offer 34.50 euros per share to squeeze out the remaining
minority shareholders. The stock closed at 31.45 euros on Aug 9.
    Sources told Reuters on Wednesday that Altice and its U.S.
cable unit were in the early stages of working on an offer to
buy Charter Communications Inc . [nL4N1KV51F]
    A deal for Charter would allow Drahi to advance his business
model in the United States. He made his fortune through
debt-fueled acquisitions swiftly followed by cost cutting to
boost profits.

 (Reporting by Sudip Kar-Gupta; editing by Jason Neely)
 ((sudip.kargupta@thomsonreuters.com; +33 1 49 49 53 84; Reuters
Messaging: sudip.kargupta.thomsonreuters.com@reuters.net))

Keywords: SFR GROUP M&A/ALTICE (URGENT)

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