Altice SA: Definitive agreement signed for the combination of SFR and Numericable

Definitive agreement signed for the combination of SFR and Numericable Paris, June 23, 2014: Vivendi, Altice and Numericable announced today that they have signed the definitive agreement regarding a combination between SFR and Numericable following a very constructive dialogue with the Employee Works Councils concerned. The Vivendi Supervisory Board unanimously selected the Altice-Numericable offer for SFR on April 5...

Definitive agreement signed for the combination of SFR and Numericable

Paris, June 23, 2014: Vivendi, Altice and Numericable announced today that they have signed the definitive agreement regarding a combination between SFR and Numericable following a very constructive dialogue with the Employee Works Councils concerned.

 

The Vivendi Supervisory Board unanimously selected the Altice-Numericable offer for SFR on April 5. They deemed that this offer will create the highest growth potential, generating the highest value for its customers, employees and shareholders, while also achieving both SFR's and Vivendi's objectives.

 

At closing, Vivendi will receive EUR13.5 billion (excluding adjustments) and will keep a 20% stake in the new combination, which it could sell at a later stage after a one year lock-up period. It will also receive an earn-out of EUR750 million depending on the future financial performance of the new group (EBITDA- Capex at least equal to EUR2 billion during one fiscal year). (Further details to be found in the Vivendi April 5 press release).

 

The closing of the agreement is subject to certain conditions, in particular obtaining approval from the relevant administrative authorities.

 

 

Contacts

Investor Relations
Richard Williams:    +44 (0)7946 348939 / [email protected]

Media (Havas)
Charles Fleming: +33 (0)614 450522 / [email protected]

 

Disclaimer

 

This press release contains statements about future events, projections, forecasts and expectations that are forward-looking statements. Any statement in this presentation that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These risk and uncertainties include those discussed or identified in the Document de Base of Numericable Group filed with the Autorité des marchés financiers ("AMF") under number I.13-043 on September 18, 2013 and its Actualisation filed with the AMF under number D.13-0888-A01 on October 25, 2013. In addition, past performance of Numericable Group cannot be relied on as a guide to future performance. Numericable Group makes no representation on the accuracy and completeness of any of the forward-looking statements, and, except as may be required by applicable law, assumes no obligations to supplement, amend, update or revise any such statements or any opinion expressed to reflect actual results, changes in assumptions or in Numericable Group's expectations, or changes in factors affecting these statements. Accordingly, any reliance you place on such forward-looking statements will be at your sole risk.

This press release does not contain or constitute an offer of Numericable Group's or Altice's shares for sale or an invitation or inducement to invest in Numericable Group's or Altice's shares in France, the United States of America or any other jurisdiction.

 

About Altice

 

We are a multinational cable and telecommunications company with presence in three regions-Western Europe (comprising France, Belgium, Luxembourg, Portugal and Switzerland), Israel and the Overseas Territories (currently comprising the French Caribbean and the Indian Ocean regions and the Dominican Republic). We provide cable based services (high quality pay television, fast broadband Internet and fixed line telephony) and, in certain countries, mobile telephony services to residential and corporate customers.

Altice (ATC) is listed on NYSE Euronext Amsterdam, ISIN LU1014539529.

 

 

 

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