Drahi’s hedge fund spat ends in acceptable defeat

Patrick Drahi’s attempted raid on Altice Europe has only been partly scuppered. The Franco-Israeli billionaire has had to raise his offer to buy out minority shareholders in the telecommunications group he controls by a whopping 30%. Still, the final price is hardly a king’s ransom...Yet a group of hedge funds led by Connecticut-based Lucerne Capital objected, and filed a complaint in Amsterdam’s Enterprise Chamber alleging that the strong-arm tactics trampled over minorities...

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