, Columnist
Spring Cleaning With a Billionaire
Drahi's buyout of SFR's minorities isn't generous, but it doesn't need to be.
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After a debt-fueled acquisition spree, billionaire Patrick Drahi is embarking on a little house-cleaning.
On Monday, Drahi's Altice offered 2.4 billion euros ($2.7 billion) to buy out the shares that it doesn't already own in SFR, its largest European business. Instead of cash, investors will get eight new shares in Altice for every five SFR they already own.