Altice Terminates Its Offer for SFR’s Shares Due to Opposition From French Securities Regulator
Altice has announced that the French securities regulator, the Autorite des marches financiers, opposed its decision to exchange its shares for those of SFR that it didn’t already own. As a result of the AMF’s decision, Altice has terminated the offer, though it reserves the right to appeal the decision. We are pleased to see the offer terminated, as we believe it significantly undervalued SFR’s shares. While we agree that consolidating SFR wholly into Altice would simplify its structure and pot...
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