Therefore,
Future altice france sfr conditioned:
After a show of iron of several months. Moreover, the group of billionaire Patrick Drahi announced in February having reached an agreement with its creditors to lighten its colossal debt of 24.1 billion euros. For example, 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 the validation of the court. Moreover, This step, which could be akin to a formality, has turned into a major question mark.
SFR excluded from the plan – Future altice france sfr conditioned
Because during the hearing relating to accelerated safeguard. Similarly, 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. For example, Enough to question his balance: for future altice france sfr conditioned 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 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 solidly solid […] have been forcibly integrated into a debt scheme from which they do not benefit. ”
“These subsidiaries are not in debt. have never taken out credit with the creditors with whom this agreement has been made, but it is still we who are the guarantors of the reimbursement of these debts and who will make the costs of the reimbursement,” said Olivier Lelong, CFDT future altice france sfr conditioned central union delegate.
“Dismantling project”
The group. for its part, has reaffirmed the importance of this record 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 the negotiation. the end of history,” hammered the management of Altice France, which recalls having obtained the agreement of all the creditors.
While staff representatives see 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 the rumors of a potential redemption of SFR. the CEO of Altice France, Arthur Dreyfuss, had assured at the exit of the July audience that there was “no current SFR sales process and no offer, not even indicative and worthless, was received future altice france sfr conditioned on date”.
Further reading: Disappearance of Iwona Becker: the lifeless body of the sixties was found – DIRECT. New Zealand – France: the error that spoils the start of the Blues, follow the match – U20 World Cup. Where and when to watch the semi-final France/New Zealand – Omnipresent, catastrophic guillard and fickou … The notes of the Blues after the new defeat against the All Blacks – Ex-Miss France Rachel Legrain-Trapani victim of sexual assault during a festival in Avignon.