Billionaire Patrick Drahi’s Altice SA said Bouygues SA never asked for more details about its bid for Bouygues Telecom that’s worth at least 10 billion euros ($11 billion) before rejecting it.
The rebuffed offer included 9 billion euros in cash payable at completion of the transaction, and an additional 1 billion euros either in shares of Numericable-SFR — Altice’s French unit — or in cash payable three years later, Alice said in a statement Thursday, for the first time giving financial details of its proposal to acquire France’s third-largest mobile-phone company.
The offer was fully financed with the help of BNP Paribas, JPMorgan Chase & Co. and Morgan Stanley, Altice said. It included 3.5 billion euros to 4 billion euros in bank debt and the remainder comprising existing cash, Numericable-SFR shares and proceeds from asset sales, it said.
Altice didn’t say in the release whether it plans to improve its bid.
Full content: The Wall Street Journal
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Uruguayan Antitrust Scrutiny Puts Major Meatpacking Deal Between Marfrig and Minerva on Hold
May 19, 2024 by
CPI
Alaska Airlines Seeks Dismissal of Consumer Lawsuit Over $1.9 Billion Hawaiian Airlines Buy
May 19, 2024 by
CPI
Idaho Attorney General Orders Split of Kootenai Health and Syringa Hospital
May 19, 2024 by
CPI
Court Rejects T-Mobile’s Appeal Bid in Antitrust Case Over Sprint Merger
May 19, 2024 by
CPI
Google Requests Judge, Not Jury, to Decide on Antitrust Case
May 19, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI