Overview

• 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.