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LONDON/PARIS (Reuters) -Billionaire Patrick Drahi’s Altice Group has bought a 12.1% stake worth about 2.2 billion pounds ($3.1 billion) in Britain’s BT Group, becoming its largest shareholder. “Altice holds the board and management team of BT in high regard and is supportive of their strategy,” Altice UK, a company formed for the purpose of holding the BT stake, said. The stake puts Altice ahead of Deutsche Telekom, which owned 12.06% of BT based on recent filings, Refinitiv data shows. “Altice UK has informed the BT board that it does not intend to make a takeover offer for BT,” it added. We are making good progress in delivering our strategy and plan,” BT said in a statement following Altice UK’s announcement.
Persons: Patrick Drahi’s, Altice, “ Altice, , , Drahi Organizations: Britain’s BT Group, SFR, BT, Deutsche Telekom, “ Altice, Britain’s, ” BT, Vivendi Locations: PARIS, France, Orange, Switzerland, United States, Israel, U.S
REUTERS/Rafael Marchante/File PhotoDrahi’s newly-created vehicle Altice UK announced the holding in a statement on Thursday which drove BT’s shares to a 17-month high. Altice UK is owned by Next Alt, dealmaker Drahi’s private holding, which also controls SFR, the second largest telecoms operator in France behind Orange. “Altice holds the board and management team of BT in high regard and is supportive of their strategy,” Altice UK, a company formed for the purpose of holding the BT stake, said. “Altice UK has informed the BT board that it does not intend to make a takeover offer for BT,” it added. Altice UK has ruled itself out of making a full takeover offer for six months by virtue of its statement.
Persons: Patrick Drahi, Rafael Marchante, “ Altice, , , Jefferies, Altice, Drahi, Morgan Stanley Organizations: BT Group, REUTERS, SFR, Orange, BT, “ Altice, Britain’s, Deutsche Telekom, Vivendi Locations: PARIS, Lisbon, Portugal, France, British, Spain, Switzerland, United States, Israel, Europe, Dominican Republic, U.S
Altice takes 12% stake in BT, no takeover offer plans
  + stars: | 2021-06-10 | by ( Reuters Staff | ) www.reuters.com + 1.00   time to read: +1 min
(Reuters) - Patrick Drahi’s Altice Group said on Thursday that it had taken a 12.1% stake in Britain’s BT Group becoming its largest shareholder. Slideshow ( 2 images )“Altice holds the Board and Management team of BT in high regard and is supportive of their strategy,” Altice UK, a company formed for the purpose of holding the BT stake, said in a statement. “Altice UK has informed the BT Board that it does not intend to make a takeover offer for BT.”The stake was worth about 2.2 billion pounds based on BT’s closing price on Wednesday. BT said it noted Altice’s announcement and its statement of support for its management and strategy. “We welcome all investors who recognise the long-term value of our business and the important role it plays in the UK,” BT said.
Persons: Patrick Drahi’s Altice, “ Altice, , Organizations: Reuters, BT Group, Management, BT, “ Altice, BT Board, Britain’s, ” BT, Orange Locations: SFR, France
The institutional single-family rental market is growing rapidly in 2021, even as criticism for evictions and outbidding other homebuyers adds up. Invitation Homes, the largest operator, told investors this March that it planned to spend $1 billion acquiring homes this year. We've published Invitation Homes latest investor deck to give a look inside the company's expansion plansSee more stories on Insider's business page. Invitation Homes, the largest public-single family rental operator with a market cap of roughly $20 billion, is poised to be the SFR industry's biggest beneficiary and busiest acquirer of new homes. Among Invitation Home's largest markets are Southern California, Atlanta, Phoenix, and South Florida.
Persons: We've, it's Organizations: SFR, Blackstone Group, Invitation, Reuters, CDC Locations: Southern California, Atlanta, Phoenix, South Florida
FILE PHOTO: The logo of Swiss bank Credit Suisse is seen at a branch office in Zurich, Switzerland, April 14, 2021. REUTERS/Arnd WiegmannZURICH (Reuters) - Credit Suisse on Thursday posted a slightly smaller-than-flagged 757 million Swiss franc first-quarter pre-tax loss, as a multi-billion dollar hit from the collapse of U.S. investment fund Archegos stymied a bumper trading quarter. Stripping out the 4.4 billion franc charge and other significant items, the bank said pre-tax profit would have been 3.6 billion francs, which would have represented the bank’s best quarter operationally in at least a decade. A net loss of 252 million francs compared with a mean estimate of 815 million francs in the bank’s own poll of 17 analysts.
Organizations: Swiss, Credit Suisse, REUTERS, Wiegmann Locations: Zurich, Switzerland, Wiegmann ZURICH
Lately, it has trained its attention on a more modest target, single-family homes in places such as Maineville, Ohio, a rural suburb north of Cincinnati where the median home price is about $270,000. But in a March 1 presentation posted on its website, Invitation Homes said it expected to have its busiest year ever buying houses. A slide from an investor presentation posted on Invitation Homes' website shows that the company plans to spend $1 billion buying up homes in 2021. Invitation Homes' presentation highlights the key areas where is planning to buy homes to rent out for profit, including the Southeast and the Sun Belt. "If they can make a cash offer, that's a win for my seller."
Persons: John Burns, , Michelle Sloan, Cerberus, Sloan, Kristi DesJarlais, DesJarlais, Leslie Quintana, Sixto Aspeitia, Quintana, Amy Barnett, Stephanie Beckwith, Beckwith, Kay Conageski, that's Organizations: Cerberus Capital Management, RealLink, Cincinnati, Cerberus, Companies, SFR, Invitation Homes, Homes, West USA Realty, Sun, Rental Home Council, Street Journal, Keyes Locations: Manhattan, , Ohio, Cincinnati, California, Orlando , Florida, Atlanta, Phoenix, South Florida, Litchfield Park, Montebello Ave, Lilburn, Plantation , Florida, Fort Lauderdale, Glendale , Arizona
Bouygues aims to leapfrog Altice to become France's No.2 mobile player
  + stars: | 2021-01-15 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +1 min
FILE PHOTO: The Bouygues Telecom company logo is seen at a shop in Bordeaux, France, March 22, 2019. REUTERS/Regis DuvignauPARIS (Reuters) - French conglomerate Bouygues aims to expand its telecoms business to become France’s second-largest mobile operator in terms of subscribers by 2026, it said on Friday. It had 12.3 million mobile subscribers at the end of September, compared with Altice’s 14.6 million and Orange’s 22.5 million. Bouygues said it aimed to exceed 7 billion euros ($8.5 billion) in telecoms revenue by 2026, up from 6 billion euros in 2019. It is also targeting core profit, after leases, of 2.5 billion euros, versus 1.4 billion in 2019.
Persons: Regis Duvignau, Orange, Bouygues Organizations: Bouygues Telecom, REUTERS, Altice Europe’s SFR, Information Telecom Locations: Bordeaux, France, Regis Duvignau PARIS
Nestle to invest 3.2 billion Sfr to cut carbon emissions
  + stars: | 2020-12-03 | by ( Reuters Staff | ) www.reuters.com sentiment -0.99   time to read: 1 min
FILE PHOTO: The company's logo is seen at a Nestle plant in Konolfingen, Switzerland September 28, 2020. REUTERS/Arnd WiegmannZURICH (Reuters) - Nestle said on Thursday it plans to invest 3.2 billion Swiss francs ($3.58 billion) over the next five years to reduce its climate impact and help it get to net zero emissions by 2050. The world’s biggest food company said it would work with farmers and suppliers to promote regenerative agriculture, plant hundreds of millions of trees, and switch to renewable electricity for all its power by 2025. The maker of KitKat chocolate bars and Nescafe coffee, which produced 92 million tonnes of greenhouse gases in 2018, said it would finance these investments primarily through operational and structural efficiencies to keep this initiative earnings neutral. (This story refiles to fix typos in headline and first paragraph)
Persons: Nestle Organizations: Nestle, REUTERS, Wiegmann Locations: Konolfingen, Switzerland, Wiegmann ZURICH
EU clears Altice, Allianz, Omers acquisition of Covage
  + stars: | 2020-11-27 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +1 min
FILE PHOTO: The logo of cable and mobile telecoms company Altice Group is seen during a news conference in Paris, France, March 21, 2017. REUTERS/Philippe Wojazer/File PhotoBRUSSELS (Reuters) - The European Commission said on Friday it had approved the proposed acquisition of French fibre optics operator by rival SFR FTTH controlled by Altice, Allianz and Omers, subject to conditions. Covage only sells fibre network access on the wholesale market, while SFR FTTH is active in both wholesale and retail markets. To address the Commission’s concerns the parties offered to divest most of Covage’s FTTO business and to offer assets and services required to operate this divested business for a transitional period. The Commission said that the transaction, as modified by the commitments, no longer raised competition concerns.
Persons: Philippe Wojazer Organizations: Altice, REUTERS, European, SFR, Allianz, Omers, European Union Locations: Paris, France, BRUSSELS, SFR FTTH
ZURICH (Reuters) - Elliott Capital Advisors said it made a proposal to acquire all outstanding shares of Swiss-Irish bakery firm Aryzta for an indicative price of 0.80 Swiss francs per share. The financing for the potential offer is available and refinancing arrangements for the company’s existing debt are at a very advanced stage, Elliott said in a statement on Monday.
Persons: Elliott Organizations: Elliott Capital Advisors, Swiss Locations: ZURICH, Irish
FILE PHOTO: Thomas Reynaud, Chief Executive Officer of French broadband Internet provider Iliad, attends the company's 2018 annual results presentation in Paris, France, March 19, 2019. REUTERS/Gonzalo FuentesPARIS (Reuters) - French telecoms firm Iliad is open to a mobile network-sharing agreement with market leader Orange to lower the deployment costs of 5G technology, its boss said on Thursday. France’s four telecoms operators, which also include Bouygues Telecom and Altice Europe’s SFR, are preparing to rollout the next generation mobile internet after the 2.8 billion-euro ($3.32 billion) sale of 5G spectrum last month. The attribution of 5G frequencies was accompanied by strict commitments by operators to the French authorities to demands for extensive coverage of the country with the new technology. “We’re quite open minded when it comes to network sharing,” Iliad’s Chief Executive Thomas Reynaud told the Morgan Stanley European Technology, Media and Telecom conference in a virtual meeting.
Persons: Thomas Reynaud, Gonzalo Fuentes PARIS, Orange, , Morgan Organizations: REUTERS, Bouygues Telecom, Altice, SFR, Morgan Stanley European Technology, Media, Telecom Locations: Paris, France, .
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