Altice France (Most Preferred) Altice International (Most Preferred) Sotheby's stake sale - Our take
Sotheby’s has announced that it has sold a minority stake to ADQ, an Abu Dhabi-based investment and holding company for US$1bn. Under the terms of the agreement, “ADQ will acquire newly issued shares of Sotheby’s to reduce leverage and support the company’s growth and innovation plans” – details are thin, but in this short piece we look at how the proceeds might be used and how the price compares to our valaution.Altice Europe is a provider of cable, fiber, mobile, telecommunications, content and media in Western Europe (comprising France, Portugal, Belgium, Luxembourg1 and Switzerland), the United States of America (U.S.), Israel, the Dominican Republic and the French overseas territories (comprising Guadeloupe, Martinique, French Guiana, La Reunion and Mayotte). Through its various business operations, Co. provides fixed services, mobile telephony services (other than in the U.S.) and media and advertising services to B2C and B2B customers in all of the geographies in which it operates. In addition, Co. offers a variety of wholesale and other services.
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New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:
- Pan European Telecom Services and Cable
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