Altice Europe: says confident in court battle versus Lucerne
(CercleFinance.com) - Altice Europe said on Tuesday that it is confident in the outcome of a court hearing that will take place at the enterprise chamber of the Amsterdam court of appeal on 23 December, and which was submitted by one of its shareholders.
In a letter sent on 30 November, Swiss money manager Lucerne said it is objecting to the all-cash offer launched on Altice Europe by the founder Patrick Drahi's holding company, Next Private.
As a "long-term shareholder" of Altice, Lucerne expressed "serious concerns" about the price of the offer and Altice Europe's corporate governance practices, calling into question the legality of the offer.
Altice said Amsterdam's enterprise chamber has been requested, amongst other things, to order the appointment of three independent non-executive directors to the board of Altice Europe to assess the offer.
The chamber has also been asked to prohibit the resolutions from being put to a vote at the extraordinary general meeting on 7 January 2021 or, alternatively, prohibit Drahi from voting.
In its statement, Altice Europe also stated that the deal is in the interests of the company's stakeholders.
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