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Altice offers to buy rest of SFR in share swap

2016-09-05 10:58:00| Telecompaper Headlines

(Telecompaper) Altice has proposed buying out the remaining 22.25 percent of French operator it does not yet own. The company is offering eight new Altice class A shares for each five SFR shares, with no minimum acceptance threshold for the offer. The acquisition is part of a broader effort by Altice to streamline its operations in order to increase synergies across the group, including with its newly acquired US activities. Altice said the offer also providers SFR's shareholders with a stake in a company with a greater free float and liquidity in its shares. SFR's board has approved the offer, after obtaining an independent opinion deeming the offer fair in financial terms for minority shareholders.

Tags: buy share offers rest

Altice to take full control of SFR

2016-09-05 02:00:00| Total Telecom industry news

Cable group to apply 'Altice Way' strategy to its various cable subsidiaries, acquires network rollout, customer service suppliers.

Tags: full control sfr altice

SFR to cut over a third of workforce in 2017 report

2016-07-27 22:28:00| Telecompaper Headlines

(Telecompaper) SFR plans drastic cuts to its workforce from the start of July 2017, reports Le Monde quoting union representatives, with over 5,000 employees out of the current 14,300 at risk. Parent company Altice had pledged to keep SFR's headcount unchanged for three years when it negotiated the acquisition of the operator in mid-2014. SFR, which has not commented on the plans, is in the process of reducing the number of staff working in its retail operations, in a reorganisation expected to be completed by November.

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