Altice takes control of Numericable

January 24, 2014 10.25 Europe/London By Julian Clover

numericableofficeThe French competition authority has approved the acquisition of cablenet Numericable by shareholder Altice.

It already holds a 30% stake in the company, a stake that will now grow to some 40%. In a statement L’autorité de la concurrence said Altice had raised its capital within the telecommunications group and taken exclusive control.

Altice will become the parent company for the Numericable Group and Altice VII and its subsidiaries. As part of the reorganization, the results of operations of Altice will reflect the consolidation of the Numericable Group with the Altice VII Restricted Group.