The media group received a cash payment of €1.8 billion from Numericable-SFR, net of a €116 million price adjustment related to SFR’s debt at the end of November. Numericable-SFR’s board has said that the the entirety of the 10% stake of shares being repurchased by Numericable-SFR is to be cancelled.
A second payment for the remaining 10%, by Numericable-SFR majority owner Altice France, of €1.9 billion bearing interest of 3.8% a year will be received by April 7 next year at the latest, with a guarantee issued by JP Morgan and BNP Paribas.
As a result of the deal, the shareholders’ agreement and the call option agreements entered into between Altice and Vivendi in connection with the SFR acquisition have been terminated.
Altice now holds, directly and indirectly, approximately 70.4% of the share capital and voting rights of Numericable-SFR.
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