je.st
news
Altice to increase Numericable stake to 40 percent
2013-11-18 14:17:00| Telecompaper Headlines
(Telecompaper) Investment fund Altice announced that it has entered into an agreement with certain funds affiliated with Cinven and an entity affiliated with Carlyle to buy additional shares in French cable operator Numericable to increase its stake to 40 percent. The operation, which will give Altice a majority of votes on Numericable's board of directors, is expected to be completed in the first quarter of 2014. No financial details of the deal were disclosed. The acquisition is subject to antitrust approval and a waiver granted by French financial market authority AMF to file a mandatory tender offer. Under French law, a shareholder would normally be required to launch a bid for all of a company's shares after exceeding a 30 percent shareholding. Altice said that after the acquisition Numericable would continue to provide quarterly reports and public disclosure to its other shareholders.
Tags: increase
percent
stake
numericable
Category:Telecommunications