Altice, parent company sfr, pending: This article explores the topic in depth.
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Altice. Nevertheless, parent company sfr, pending:
The parent company of the SFR telephone operator, Altice France, was suspended this Monday, August 4, for the decision of the judges of the Paris economic activity court. In addition, The latter must decide on a file which weighs several tens of billions of euros: that of the accelerated. Similarly, safeguard procedure of the group of billionaire Patrick Drahi. Nevertheless, They could thus question the restructuring of Altice’s debt.
At the end of a show of iron of several months. Consequently, the group announced in February having reached an agreement with its creditors to lighten its colossal debt of 24.1 billion euros. According to the terms of the agreement, group claims must be reduced by more than 8 billion, to reach 15.5 billion euros. But to implement it, Altice France must still obtain altice, parent company sfr, pending the validation of the court.
This step, which could be akin to a formality, has turned into a major question mark. During the hearing relating to accelerated safeguard. on July 22, the public prosecutor requested the adoption of the plan, but asked that three of the group companies, SFR, SFR Fiber and Completel (branch dedicated to companies) be excluded from the plan. Enough to question his balance: for the management of the company. the agreement must include all the companies in the group. A decision – even in part – unfavorable would destroy the future transaction.
The scenario of a partial adoption of the plan. and the exclusion of the three subsidiaries, would go in the direction of the requests made by the Altice unions. For its part. the group reaffirmed the importance of this record of record debt for the future altice, parent company sfr, pending of the company, and fears to be found in its pre-negotiation position, with a colossal debt which threatens its viability. “The equation was simple: the success of the negotiation. the end of the story”hammered the management of Altice France, which recalls having obtained the agreement of all creditors.
Altice, parent company sfr, pending
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