Altice has upped its stake in France-based SFR Group, as it looks to tie up full ownership of the subsidiary it acquired in 2014.
The company said it had now amassed 95.9 percent of SFR’s share capital and voting rights.
Next month, Altice plans to buy out SFR’s remaining shareholders by offering €34.50 per share in a so-called squeeze-out.
According to French law, SFR’s directors must to provide a view on the fairness of this offer based on an independent financial report.
Altice was unsuccessful in its attempt late last year to buy the remaining shares it did not own after the French regulator blocked the move.
Last November, the French competition authority handed Altice an €80 million “gun-jumping” fine over its initial acquisition of the company.
Adjusted EBITDA was also down, by 4.6 percent to €953 million, after the company spent a significant, although undisclosed, amount of money on acquiring exclusive rights to UEFA Champions League and UEFA Europa League football.
The operator added 34,000 retail mobile customers, but lost 16,000 subscribers during the period, as it battles Bouygues, Free and Orange in an ever competitive French market.
The SFR name is set to disappear next year as Altice rebrands all of its opcos under one global identity.