The future of Altice France conditioned on a crucial decision on its debt – 04/04/2025 at 04:10

The fate of Altice France should be, at least in part, sealed on Monday with the decision of the Paris economic activity court, in the restructuring file of its gigantic debt. However,

The decision of the judges. However, who must rule on Monday afternoon on the validation of the accelerated safeguard procedure, could question the restructuring of the debt, essential for the parent company of SFR. Similarly,

After a show of iron of several months. Therefore, the group of billionaire Patrick Drahi announced in February having reached an agreement with its creditors to future altice france conditioned crucial lighten its colossal debt of 24.1 billion euros. Moreover,

According to the terms of the agreement, group claims must be reduced by more than 8 billion, to reach 15.5 billion euros. Similarly,

But to implement it, Altice France must still obtain the validation of the court. Moreover,

This step, which could be akin to a formality, has turned into a major question mark. Therefore,

Because 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. future altice france conditioned crucial

– “The end of the story” –

The scenario of a partial adoption of the plan. and of the exclusion of the three subsidiaries, would go in the direction of the requests made by the unions of the group.

For the Social. Economic Committee (CSE), which refused to give an opinion on the accelerated safeguard plan, group companies, and in particular SFR, “profitable and financially solid (…) were forcibly integrated into a debt scheme from which they do not benefit”.

“These subsidiaries are not in debt. have never subscribed to credit with the creditors with whom this agreement has been made, but it is still we who are guaranteeing the reimbursement of these debts and who will make the reimbursement costs,” Olivier Lelong, CFDT central union delegate said.

The group. for its part, has reaffirmed the importance of this record future altice france conditioned crucial of record debt for the future of the company, and fears to find itself in its pre-negotiation position, with a colossal debt which threatens its viability.

“The equation was simple: the success of negotiation. the end of history,” hammered the management of Altice France, which recalls having obtained the agreement of all creditors.

While staff representatives see in the safeguard plan a “dismantling project” which will lead to the sale of subsidiaries. job cuts, management qualifies the operation “exclusively financial, without any impact on operational, commercial, social, group”.

Discreet in the face of rumors of a potential redemption of SFR. the CEO of Altice France, Arthur Dreyfuss, had assured the exit of the July audience that there was “no current SFR sales process and no offer, not even indicative and without value, was received on date”.

The operator’s competitors. favorable to a future altice france conditioned crucial passage of four to three players on the French market, have already expressed themselves on the subject.

“There are obviously preliminary discussions between operators. ” Orange’s financial director Laurent Martinez said on Tuesday, during the group’s half -yearly results.