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The Latest Breaking News from Patrick Drahi

'Immediately rejected': French telecoms firm SFR refuses rival's bid

SFR's owner, Altice Group, rejected the €17bn offer made by three French groups to take over the telecoms company. But negotiations are expected to continue.

Euronews

Sotheby’s losses more than double to $248m as art market slumps

Sotheby’s also takes hit from hefty severance costs, despite its headcount only dropping by 24 employees

The Guardian - UK

Going, going... how London's auction houses are taking a hammering

Post-Brexit regulations, the rise of Paris and global issues from wars to the US election have all taken their toll

Evening Standard

From analysis to the latest developments in health,
read the most diverse news in one place.

Farewell, Patrick Drahi from BT – who won’t be missed

Long-term intentions of stake’s new owner Bharti are unclear but it should be told it cannot own the company outright

The Guardian - UK

India’s Bharti to buy 24.5% BT stake from Patrick Drahi’s Altice

Embattled French tycoon to raise funds through deal with billionaire Sunil Bharti Mittal’s conglomerate

The Guardian - UK

Altice Chief Patrick Drahi Says He’s Shocked — Shocked! — by Portuguese Procurement Scandal

The center of an investigation, Altice co-founder Armando Pereira, is Drahi’s top lieutenant. Under house arrest, he has denied any wrongdoing

Broadcasting & Cable

BT begins search for new CEO to lead cost-cutting programme

Successor sought for Philip Jansen, who announced plan to axe up to 55,000 jobs, as BT’s share price falls

The Guardian - UK

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French billionaire Patrick Drahi ups BT stake to more than 24%

Businessman’s Altice UK reiterates that it does not intend to make a bid for the British telecoms group

The Guardian - UK

UK growth forecast upgraded by IMF; Bank of England governor says ‘big lessons to learn’ after inflation shock – as it happened

New IMF report shows “a big upgrade to the UK’s growth forecast” says Jeremy Hunt, with UK expected to grow by 0.4% this year not shrink by 0.3%

The Guardian - UK

‘France’s answer to Steve Jobs’ buys 2.5% stake in Vodafone

Opportunities to accelerate ‘streamlining’ of UK telecoms group’s business cited by investment vehicle

The Guardian - UK

Kwasi Kwarteng’s opaque stance on BT ownership is not helping

The company really does not need to take an excursion into high-leverage financial engineering

The Guardian - UK

BT takeover could be back on after govt waves through French billionaire stake

THE chances of a £20 billion takeover of BT by French billionaire Patrick Drahi grew today when the government waved away security concerns and said it would take “no further action” over his 18% stake.

Evening Standard

Strikes, ‘food banks’, takeover fears: the sea of troubles circling BT

Firm that played key role in lockdown is grappling with pay row, strategic uncertainty and the cost of living crisis

The Guardian - UK

Sunak’s design for the windfall tax is complex, but is it any good?

Labour is right to crow as the chancellor’s hand is finally forced, but we need to see what materialises

The Guardian - UK

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Benzinga

Two Major Tech Deals Come Under UK Government Scrutiny

The U.K. will review Altice USA Inc's (NYSE:ATUS) increased stake in BT Group plc (OTC:BTGOF) after Business Secretary Kwasi Kwarteng exercised new takeover powers focusing on national security, reports CNBC. The company announced that the U.K. Business Secretary Kwasi Kwarteng is "calling in" its deal with Altice, which telecom magnate Patrick Drahi owns. BT Group said it…

The Guardian - UK

Kwasi Kwarteng to review French billionaire’s BT stake over security concerns

Business secretary intervenes after biggest shareholder Patrick Drahi raised stake in UK telecom giant to 18%

Evening Standard

FTSE 100 Live: Drahi’s BT stake under scrutiny, Johnson Matthey and Auto Trader results

An 18% stake held in BT by French billionaire Patrick Drahi’s Altice business was today called in for scrutiny under the National Security and Investment Act.

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