Altice NV: Response to AMF Decision on Exchange Offer For SFR Group Shares
October 04 2016 - 12:36PM
Response to AMF
Decision on Exchange Offer for SFR Group Shares
Amsterdam &
Paris, 4 October 2016 - Altice NV (Euronext: ATCA, ATCB) has
taken note of the decision of the French securities regulator, the
Autorité des marchés financiers (AMF), to oppose the public
exchange offer for its subsidiary SFR Group announced on 5
September 2016.
The Altice Group regrets this
decision, which goes against the interests of both companies, their
shareholders and employees.
The Altice group notes that the
board of directors of SFR Group unanimously recommended the
voluntary offer and that the independent expert concluded that the
offer was fair to minority shareholders. As a result of the AMF
decision, the offer is terminated, but Altice reserves the right to
file an appeal with the Court of Appeal of Paris against the
decision of the AMF, which it believes was made in breach of
applicable stock market regulations.
Altice, an international group
listed on the Amsterdam stock exchange and SFR group's controlling
shareholder, confirms that its industrial strategy and its plans
for growth in France and abroad remain unchanged.
OVERVIEW OF
ALTICE
Founded by telecom entrepreneur,
Patrick Drahi, Altice is a multinational cable, fiber,
telecommunications, contents and media company with presence in
four regions - Western Europe (comprising France, Belgium,
Luxembourg, Portugal and Switzerland), the United States, Israel,
and the Overseas Territories (currently comprising the French
Caribbean, the Indian Ocean regions and the Dominican Republic).
Altice provides very high speed based services (high quality pay
television, fast broadband Internet and fixed line telephony) and,
in certain countries, mobile telephony services to residential and
corporate customers. Altice is also active in the media space with
a portfolio of channels (News, Sports, Lifestyle etc.) as well as
providing Premium content on nonlinear platforms; it also produces
its own original content (Series, Movies etc.).
Altice (ATCA & ATCB) is listed
on NYSE Euronext Amsterdam.
OVERVIEW OF SFR
GROUP
With regard to the telecom market,
SFR Group is the second largest operator in France with a turnover
of 11 billion euros in 2015 and prime positions in all market
segments, from consumer, to Business to Business (B2B), local
authorities, and wholesale. Featuring the first fiber optic network
(FTTB/FTTH) with 8.5 million eligible connections, SFR Group
intends to stay ahead with its rollout plan to reach 22 million by
2022. Its leading mobile network covers 99.3% of the population in
3G and 70% in 4G. Thanks to its massive investments, SFR Group aims
to create the nation's new leader in the combined broadband and
mobile markets. SFR Group offers a comprehensive range of
Internet-access, fixed-line, mobile and audiovisual services. SFR
Group is also a solutions expert in the fields of unified
communications, Internet of Things and Cloud Computing for
businesses. With regard to the Consumer segment, the Group operates
under the SFR and RED by SFR brands. On the B2B segment, it
operates under the SFR Business brand.
With regard to the media market,
its new SFR Media entity consists of SFR Presse, which gathers all
the group's media activities in France (Groupe L'Express,
Liberation, Newsco.), SFR RadioTV, which includes the group's
audiovisual activities in France (BFM TV, BFM Business, BFM Paris,
RMC, RMC Découverte), and SFR Sport, which encompasses all
sport-related activities: BFM Sport, RMC Sport, SFR Sport 1, SFR
Sport 2, SFR Sport 3, SFR Sport 4, and SFR Sport 5. SFR Group
applies its well-recognised know-how to provide Premium content on
non-linear platforms and produce its own innovative and original
content. SFR Media also positions itself as the second largest
operator in the French digital press sector.
All of which shows that SFR Group
is adopting a new and increasingly integrated model around access
and content convergence.
Contacts
Chief Investor Relations
Officer
Nick Brown: +41 79 720 1503 /
nick.brown@altice.net
Chief Communications
Officer
Arthur Dreyfuss: +41 79 946 4931 /
arthur.dreyfuss@altice.net
Response to AMF Decision on
Exchange Offer For SFR Group Shares
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Altice NV via Globenewswire
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