Altice regrets that Bouygues has sought no details on its … – The Express

Altice group led by Patrick Drahi (owner of L’Express), regretted Thursday that the Bouygues group has sought no details of its bid before rejecting Tuesday night. The parent of Numericable, SFR had offered 10 billion euros over its telecoms subsidiary.

Altice “takes note” of the decision of Bouygues’ regretting it or by his counsel or by its management teams, has sought to obtain any details or explanation of its offer before submission to the Board of Directors, “a statement said.

Details of the offer revealed

The group also revealed the details of its offer to Bouygues he presented on 3 June and completed June 21 This offer “values ​​Bouygues Telecom 10 billion at minimum, about 15 times Ebitda,” the gross operating income estimated by the group in 2015, he said.

“A cash payment of EUR 9 billion to the completion of the transaction” was planned with several options for payment of the supplement. Funding for the operation was “fully covered and secure, unconditionally, under letters of commitment attached to the bid submission BNP, JP Morgan and Morgan Stanley,” yet the company said.

Altice says he was committed to “maintain employment of the employees of Bouygues Telecom in conditions similar to those which had been subscribed for the acquisition of SFR”. On its acquisition of the subsidiary of Vivendi, including Altice had promised not to carry out redundancies until 2017.

Regarding the regulatory risk, Altice said it had “initiated contacts” with the competent authorities and preceded his requests by entering into negotiations with the operator Iliad (Free) for asset sales. Finally, Altice ensures with the government pledging to “continue to increase investment, especially in the deployment of fiber” and to “fully participate in bidding on the frequencies 700 MHz”.