Allice France, the SFR operator’s parent company, intends to finish its accelerated safeguarding plan, which includes a restructuring agreement of its debt, validated in early August by Justice, before October 1, said on Tuesday, August 19.
In a document that specifies the contours of this operation, Altice France evaluates the date of entry into force of the restructuring on October 1, 2025.
One of the final obstacles for the implementation of the Plan has been raised, the Prosecutor’s Office does not plan to resort to the decision issued on August 4, according to Figaro’s information. Contacted by AFP, the Paris Economic Activity Court could not comment on this information immediately.
ANSA and CFDT opposed Patrick Drahi’s strategy
The group of the multimillionaire Patrick Drahi had scored in February after a long confrontation a plan to lighten its gigantic debt by threatening its viability. The agreement with its creditors establishes that it decreases by about 8 billion euros, to go from 24.1 billion to 15.5 billion. In return, these creditors must obtain 45% of the company’s capital.
However, ANSA, the majority union within SFR, and the CFDT expressed their lively opposition to this strategy and indicated their intention to appeal. But this is not suspense, which allows implementing the plan waiting for the appeal sentence.
This Altice restructuring could open the way to the redemption of SFR for one of its competitors, a hypothesis that has been stirring the telecommunications sector for several months, even if the group has regularly denied.
The safeguard plan is an “exclusively financial group, without any impact on the group, commercial and social group of the group,” Altice had attacked in early August.
Source: BFM TV
