The Altice is at historic highs after announcing the intention to purchase the French Bouygues. Valuations on the stock market are a reality for both companies but also to their competitors.
The Altice, which owns PT Portugal, wants to make a new purchase. The target: Bouygues Telecom, the third largest French telecommunications operator. The aim is to achieve the acquisition through its Numericable, SFR unit. The three companies are experiencing double-digit rises in stock exchanges. And there’s even competitors to advance.
The shares of Altice soar 21.24% to 139.55 euros on the Amsterdam stock exchange, its record high after news broke that its subsidiary SFR-Numericable offers around 10 billion euros . In the official announcement, made this Monday, June 22, there are no price indications. “The Altice will update the market in due course.”
Not only is Patrick Drahi company that is sharply higher. Also its subsidiary, Numericable, SFR, fires 14.98% to 55.19 euros on the Paris stock exchange.
The Bouygues Telecom argues that there is no ongoing negotiations, and there will only be a meeting this terça- fair. Still, the company adds 13.76% also in Paris, trading at 38.245 euros, the highest level since April.
The addition of Numericable, SFR with Bouygues would create a challenge to Orange, putting its leadership in question. This does not prevent the company gains, adding 7.53% to 14.85 euros.
It is certain that the increases in exchange are extended to other companies such as Iliad, which gained 11.78% to 229.15 euros in Paris.
According to Bloomberg, the Iliad , small French competitor, is in exclusive negotiations to acquire certain assets of Numericable, SFR, in order to alleviate concerns on competition, since a merger would reduce the number of national four telecommunications companies to three. But the Orange could also keep active, according to advanced the Wall Street Journal at the end-of-week.
No comments:
Post a Comment