(CercleFinance.com) – Numericable, SFR said Thursday qu’Altice, its parent, regretted the refusal of the Bouygues Board of Directors in its bid for Bouygues Telecom while making some ‘details’.
The operator first confirms that the offer of Bouygues Telecom Altice valued at 10 billion euros at least, about 15 times Ebitda estimated 2015 under the guidance of Bouygues and 25 times Ebitda. – Capex for 2017 according to estimates Bouygues
This proposal represents premiums of around 2x 3x respectively was compared to the average values of such assets on the market European emphasizes Numericable-SFR.
The offer consists of a cash payment of nine billion euros plus a choice of Bouygues, a guaranteed payment in cash of a billion euros three years after the completion of the transaction or payment in shares of SFR, Numericable one billion euros.
The group added that financing of the transaction is fully insured and secure ‘, with the support of BNP, JP Morgan and Morgan Stanley.
The operation is funded at 60% -65% in equity and 35% -40% in debt and not to the tune of 10 billion debt as indicated in leaks to the press.
Regarding the regulatory risk, Numericable, SFR said had entered into exclusive negotiations with Iliad / Free to arrange transfers different asset classes.
In terms of employment, Altice has undertaken, with the Bouygues Group as the government, to maintain employment of the employees of Bouygues Telecom in similar conditions to those which had been subscribed for the acquisition of SFR.
To date, Numericable, SFR said it had fully complied with its commitment to maintaining employment.
Meanwhile, Altice s’ a commitment to the Government to continue to increase investment, especially in fiber deployment and to fully participate in bidding on the frequencies 700 MHz.
Altice, who notes Bouygues Decision of the Board of regret that the conglomerate has sought ‘the least detail or explanation on his offer. “
associated value
Copyright (c) 2015 Business Wire.
The information and analyzes diffused by Cercle Finance constitute only a decision support for investors. Responsibility of Reuters can not be accepted directly or indirectly from the use of information and analyzes by readers. It is recommended that anyone untrained to consult a professional advisor before investing. This information is indicative in any way constitute an incentive to sell or solicitation to buy.
No comments:
Post a Comment