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Altice Europe: Drahi's Next Private begins tender offer

( - Patrick Drahi's Next Private is launching a tender offer for all outstanding shares of Altice Europe for 4.
11 euros per share in cash, the companies announced on Wednesday.

The offer period starts today and expires on 21 January 2021, unless extended, they said in a statement.

In September, Next Private - a holding company controlled by Drahi - said it would purchase of all ordinary A shares and ordinary B shares forming Altice Europe's capital.

The 2.5 billion euro deal represents a premium of 23.8% over the closing price on 10 September, one day before the deal's announcement, with Altice's board unanimously recommending the tender.

Patrick Drahi, the founder of Altice Europe, currently owns about 77.5% of the European telecommunications group's capital. The businessman said he will delist the company following the completion of the offer.

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