Eutelsat rejects buyout offer
Posted: Sat, Oct 2, 2021, 9:47 AM ET (1347 GMT)
Eutelsat has rejected, for now, a buyout offer from the founder of telecommunications company Altice Group. Patrick Drahi made an offer to acquire Eutelsat that the satellite operator turned down because it was too low. The deal valued Eutelsat at €12.10 per share; the company's stock closed at €10.35 per share yesterday. Drahi has held discussions with Eutelsat's top investors and with the French government about a deal. He reportedly would keep Eutelsat separate from other Altice Group assets, suggesting he might make other deals in the satellite sector.
Eutelsat has rejected, for now, a buyout offer from the founder of telecommunications company Altice Group. Patrick Drahi made an offer to acquire Eutelsat that the satellite operator turned down because it was too low. The deal valued Eutelsat at €12.10 per share; the company's stock closed at €10.35 per share yesterday. Drahi has held discussions with Eutelsat's top investors and with the French government about a deal. He reportedly would keep Eutelsat separate from other Altice Group assets, suggesting he might make other deals in the satellite sector.
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