It’s all over again. While Patrick Drahi has already acquired the majority of the capital of SFR last year for 13.2 billion euros, the businessman now wants to take full control of the telecom operator. Altice has indeed announced that it has submitted, with its subsidiary Numericable-SFR, an offer to acquire the 20% that Vivendi still holds in Numericable-SFR. At a price of 40 cents per share, the bill amounts to around 3.9 billion euros.
According to the unveiled arrangement, Numericable-SFR would acquire half of the shares in the form of an exchange of shares – which requires a vote of the general meeting -, the other half being acquired by Altice France, in cash. A transaction that will take place no later than April 7, 2014, to which 3.8% annual interest is added. If the operation is successful, it would bring the acquisition of SFR to more than 17 billion euros.
Over the past year, Altice has increased its acquisitions in the telecoms sector. In addition to the SFR file, widely publicized, the firm of Patrick Drahi also got its hands on the MVNO Virgin Mobile for more than 200 million dollars. At European level, he also took control of Portugal Telecom for 7.4 billion euros last December.
But the businessman would still like to shake up the French market. According to Bloomberg, Mr. Drahi would still be interested in Bouygues Telecom, the operator being weakened since he failed to get his hands on SFR.