Franklin advises Altice on its strategic partnership with NextRadioTV
On July 27, Altice announced the signing of a strategic partnership with Alain Weill, the Chairman, CEO, founder and main shareholder of NextRadioTV (BFM-TV, RMC Radio). Under this agreement, Alain Weill and Altice will be partners in a company in which Alain Weill will control 51% of its economic and voting rights and serve as Executive Chairman, and to which Alain Weill will transfer his stake in NextRadioTV, representing 37.77% of its economic rights and 48.59% of its voting rights. As a second step, the new company will make a voluntary tender offer for 100% of NextRadioTV’s capital. The offer will be filed with the French securities regulator (Autorité des Marchés Financiers) after the transaction has been presented to the French Audiovisual Authority (Conseil Supérieur de l’Audiovisuel) and antitrust authority (Autorité de la Concurrence). The tender is expected to close by the end of 2015.
Franklin advises Altice on M&A, financing and competition law aspects.