All that for nothing? SFR finally on the point … not to be sold

Lots of noise for nothing? According to information collected by AFP, the file on a possible sale of SFR could close earlier than expected. This Tuesday, the prosecution requested the adoption of the restructuring plan for six of the nine companies in the Altice France group.

To the chagrin of Patrick Drahi and his creditors, SFR SA, SFR Fiber and Completel are not part of it. The decision of the Paris Commercial Court expected in two weeks could have the operator’s disposal projects to the Red Carré.

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A court decision expected on August 4

Not everything happens as Patrick Drahi hoped. In order to reduce the debt of the Altice France group from 24 to 15 billion euros, the telecoms magnate plans to sell the jewels of its crown: Infracos (which could return to the American Phoenix Tower International according to The platform), XPFIBER, the mobile post (bought by Bouygues Telecom), before concluding on a possible sale of SFR.

This sale of SFR is however not seen with a good eye by the UNSA, the majority union of the group. For Abdelkader Choukrane, secretary general of Unsa and elected to the CSE, ” Altice debts do not have to fall back on SFR“. The union had called on the government to ensure the safeguarding of the group’s jobs and protecting the operator’s critical activities. At the beginning of July, the Minister of Industry, Marc Ferracci, also said he was concerned about the possibility of a sale of SFR to foreign actors.

If for Brahim Ben Maatoug, union coordinator of the UNSA, the restructuring of Altice France debt is ” A plan disguised to prepare the sale of SFR“, The boss of Altice France assures that it is not:

There is no current SFR sales process and no offer, not even indicative and worthless, has been received on date.

Arthur Dreyfuss, president of Altice France

However, according to Bloombergit is Altice France who would have sent information on SFR to potential buyers. Several competitors of the operator as well as investment funds have made it possible to be interested in a total or partial recovery of the operator in the Red Carré.

Anyway, SFR will be set on August 4, when the Paris Commercial Court decides on the accelerated safeguard procedure of the Altice France group. In the event of an unfavorable decision for Altice and its creditors, negotiations would be aborted and the group would retain its 24 billion debts. Thus, SFR’s transfer projects and other Altice companies would collapse.