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ATUS WI - Altice USA Inc News Story

$17.71 0.0  0.1%

Last Trade - 08/06/18

Sector
Telecoms
Size
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £7.10bn
Position in Universe th / 6858

BUZZ-Altice Europe: Drahi's buyout offer launch drags shares

Wed 25th November, 2020 9:52am
** Shares in telecoms and cable group Altice Europe
 ATCA.AS  fall 4% after the launch of a confirmed public offer
for its full acquisition by Next Private
    ** Following AFM approval, Next Private, owned and
controlled by Altice Europe's president and founder Patrick
Drahi, launches a recommended offer at 4.11 euros per share (cum
dividend)
    ** Drahi first announced the offer - which values the group
at 4.9 billion euros  ($5.83 billion) - in September, but some
have called it too low and opportunistic  urn:newsml:reuters.com:*:nL1N2I51UA
    ** Altice Europe's board unanimously supports the
transaction, recommends shareholders to tender their shares and
vote in favour when the offer is discussed at Jan. 7 meeting 
    ** The offer period will run from Nov. 25 to Jan. 21
    ** Deutsche Bank analyst Robert Grindle says shares are
falling on an unimprovement in the confirmed offer and details
on the timeline and discussions between Next and Altice
    ** "In my opinion, a number of minority investors will be
unmoved by such detail and will note recently improved Q3
results and European telco stock prices," he says
    ** Including Wednesday's fall, the stock has dropped 26.6%
YTD
    
($1 = 0.8399 euros)

 ((sarah.morland@thomsonreuters.com; +48 58 778 53 35))
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