Altice France ups its direct stake in Numericable to 40%

9 Jun 2014

Altice France, a subsidiary of Luxembourg-based investment fund Altice Group, has finalised the acquisition of a 2.6% stake in Numericable from Pechel Funds and Five Arrows Funds. According to a press release, Altice France, which is the majority shareholder in Numericable, bought 2.643 million shares from Pechel and 604,207 from Five Arrows at a price of EUR31.41 (USD42.85) per share, for a total cash consideration of EUR121.5 million. Altice exercised the call options granted by Pechel and Five Arrows on 7 November 2013, while the purchase was funded by increased indebtedness at Altice France.

As a result of the acquisition, Altice France now directly owns 40% of the shares in Numericable Group; further, the shareholders’ agreement between Altice France, Pechel and Five Arrows, in place since the initial public offering (IPO) of Numericable Group in November 2013, has now been terminated.

France,Altice Group, SFR Group,



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