Altice NV: Decision of the French Competition Authority
November 08 2016 - 3:13AM
Decision of the French Competition
Authority
Amsterdam & Paris, November 8, 2016 - SFR
Group and Altice have been notified of the decision of the French
Competition Authority sentencing them to a 80 million euro
gun-jumping fine in connection with the 2014 acquisition of SFR and
Virgin Mobile.
The denounced practices, which aimed to make the new entity
operational as soon as possible after obtaining clearance of the
transaction, were performed in good faith, in the midst of legal
uncertainty.
The Group chose not to refute these practices and to accept the
French Competition Authority's settlement offer.
The Group chose to settle the matter in order to limit its
financial exposure, given the level of penalties imposed for this
type of procedural violation under the French Commercial
Code.
This settlement demonstrates the Group's eagerness to restore a
constructive dialogue with the regulator. The Group is focusing on
its key avenues for growth, which include investing in and
deploying very high-speed fiber optic and 4G/4G+ networks, and
investing in content such as news, cinema and sports broadcasting
rights.
With this decision, the first to be handed down on this issue in
France, the French Competition Authority has clarified the rules
that the parties to a merger must observe between the signature of
the agreement and the Competition Authority's decision.
During the settlement negotiations, the Group actively participated
in the analysis and discussion of these requirements.
About Altice - www.altice.net
Founded by telecom entrepreneur, Patrick Drahi,
Altice is a multinational cable, fiber, telecommunications,
contents and media company with presence in four regions - Western
Europe (comprising France, Belgium, Luxembourg, Portugal and
Switzerland), the United States, Israel, and the Overseas
Territories (currently comprising the French Caribbean, the Indian
Ocean regions and the Dominican Republic). Altice provides very
high speed 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 is also active in the media space with a
portfolio of channels (News, Sports, Lifestyle...) as well as a
provider of Premium contents on nonlinear platforms; it also
produces its own original contents (Series,
Movies...).
Altice (ATC & ATCB) is listed on NYSE Euronext
Amsterdam.
About SFR Group - www.sfr.com
SFR Group is the second largest telecoms operator
in France with a turnover of 11 billion euros in 2015 and prime
positions in all market segments, from consumer, to Business to
Business (B2B), local authorities, and wholesale. Featuring the
first fiber optic network (FTTB/FTTH) with 8.5 million eligible
connections, SFR Group intends to stay ahead with its rollout plan
to reach 22 million by 2022. Its leading mobile network covers more
than 99% of the population in 3G and 70% in 4G/4G+. With regard to
the Consumer segment, the Group operates under the SFR and RED by
SFR brands. In the B2B segment, it operates under the SFR Business
brand.
SFR Group is also adopting a new and increasingly
integrated model around access and content convergence. Its new SFR
Media entity consists of SFR Presse, which gathers all the group's
media activities in France (Groupe L'Express, Libération, etc.),
SFR RadioTV (owned at 49%), which includes the group's audiovisual
activities in France (BFM TV, BFM Business, BFM Paris, RMC, RMC
Découverte), and SFR Sport.
Listed on NYSE Euronext Paris, SFR Group (SFR) is
owned by Altice group (83%).
Follow the Group's latest news on Twitter:
@SFR_Groupe
Investor Relations
contact: Nick Brown / +41 79 720 1503
/ nick.brown@altice.net
Press contact
Altice: Arthur Dreyfuss / +41 79 946 4931 / arthur.dreyfuss@altice.net
Press contact
SFR: Nicolas Chatin / +33 1 85 06 05 50 / presse@sfr.com |
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information contained therein.
Source: Altice NV via Globenewswire
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