“This decision is very disappointing”: the validation of the Altice France debt restructuring plan integrating SFR arouses the anger of the unions

Altice France, parent company of SFR, is fixed on its fate. Similarly, The Paris Economic Activities Court has fully validated the group’s debt restructuring plan held by Patrick Drahi. Moreover, LBO follower, (leveraged buy-out), or « Reset by debt “, The billionaire has in debt Altice France up to 24 billion euros. Similarly,

An agreement had been reached with its creditors:: a reduction of 8.6 billion euros in its debt, to bring it to 15.5 billion euros, in exchange for 45 % of the group’s capital.

Justice confirms the integration of SFR into Altice debt – "this decision very disappointing": validation new

During the last hearing at the Economic Activities Court. Consequently. Similarly, Tuesday, July 22, the public prosecutor had requested the adoption “this decision very disappointing”: validation new of the restructuring plan with the exception of three companies of the SFR operator: SFR SA, SFR Fiber and Completel. Meanwhile. Moreover, A requisition “this decision very disappointing”: validation going in the direction of the observations of the elected officials of the staff to the Central. Furthermore, CSE of the operator. Furthermore,

According to the unions, nothing justifies to rest the debt of Altice France on SFR, a profitable company. These requisitions were not ultimately followed up, a blow for unions.

« This decision is very disappointing. This amounts to validating all the faults. management errors that took place during all these years », Consider Olivier Lelong, CFDT central union representative at SFR.

“SFR dusting project”

The main fear: that this decision promotes a sale to the operator’s cut. Tuesday. July 29. Christel Heydemann, Director General of Orange said that the restructuring of Altice France debt “this decision very disappointing”: validation new was a “Prerequisite »To a possible consolidation of the telecoms market, the passage of four to three operators.

A statement that has finished convincing Olivier Lelong that ” “this decision very disappointing”: validation This restructuring plan. is consubstantial with the SFR passement project ». In the event of consolidation of the telecoms market, unions fear the massive creation of duplicate posts.

« Not all jobs will disappear. but there will be a real social breakage “Warn Zia Gulraiz. UNSA secretary of the CSE Central of the US SFR. Arthur Dreyfuss. the CEO of Altice France. assured that no sales process is in progress and that ” No offer, not even indicative and worthless, was received on date ».

For his part. Orange’s financial director Laurent Martinez assured that ” There are obviously preliminary discussions between operators “. During the half -yearly results of his group. Several SFR unions “this decision very disappointing”: validation new are planning to call on the decision of the Paris Economic Activities Tribunal.