Altice USA Inc logo

ATUS WI - Altice USA Inc News Story

$17.71 0.0  0.1%

Last Trade - 08/06/18

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
    ** 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*: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%
($1 = 0.8399 euros)

 ((; +48 58 778 53 35))
© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.