Patrick Drahi Secures Historic Debt Reduction to Retain Control of SFR

After a year of intense negotiations, Altice France's debt was reduced by €8.6 billion, with creditors gaining a 45% stake while Drahi remains in charge.

Patrick Drahi negotiated a €8.6 billion debt reduction for Altice France, bringing its total debt down from €24 billion to €15.5 billion.
In exchange for the debt reduction, creditors now hold a 45% stake in Altice France, the parent company of SFR.
Despite the significant concession, Drahi retains operational control of the company, avoiding the risk of losing management authority.
This agreement marks the largest financial restructuring in France's history, following over a year of tense negotiations with 17 investment funds.
The deal is expected to stabilize SFR, allowing the telecom company to focus on improving its operational performance after years of financial strain.