US EditionAltice France Close to Debt-for-Equity Deal with Creditors, Sources Say
19 Articles
19 Articles
By validating, on Monday 4 August, the operator's debt reduction plan, the Paris Economic Court removes a major obstacle to the sale of its telecoms subsidiary.
On Monday, the judges validated the plan for restructuring the debt of Altice: reduced by EUR 9 billion in debt, Patrick Drahi can now consider selling the second French telecom operator.
ledauphine.com
The judges of the economic court confirmed this Monday the procedure for restructuring SFR's debt proposed by Altice France, the operator's parent company.
The parent company of the operator SFR, concerned with an abyssal debt of 24 billion euros in the 3rd quarter of 2024, must have the court of economic activities in Paris validate this Monday the agreement reached with the creditors. A hearing at the end of which the latter might prove to be invalid.
Patrick Drhai's company will see life reduced by 8.6 billion euros. However, trade unionists are against including rice subsidies, in particular SFR, which may be on the way to be sold.
The SFR telephone operator will soon change bosses. Sale is now legal according to the law.
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