PARIS Oct 14 Billionaire Patrick Drahi's Altice
telecoms group said on Friday it had bought a 5.21
percent stake in its French subsidiary SFR Group,
raising its stake to more than 82 percent by buying shares off
the market in private transactions.
The move, paid for in existing Altice shares at a ratio of 8
Altice for 5 SFR, comes less than a fortnight after the French
regulator AMF blocked its public offer at that same price for
the entire outstanding minority of shares in the business.
The AMF said on Oct. 6 it had blocked the public offer on
the grounds it lacked information for minority shareholders to
Altice chief executive Michel Combes criticised the decision
as "incomprehensible" but withdrew the offer as a result.
(Reporting by Andrew Callus; Editing by Geert De Clercq)