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Founders Love Listing in Amsterdam. Maybe a Little Too Much

Founders who want to list their company in Europe while retaining control usually have a shortlist of one bourse: Amsterdam...Altice’s billionaire founder, Patrick Drahi, may be going too far in exploiting that particular attraction of the Dutch market. Last month, Drahi announced a 2.5 billion-euro ($2.9 billion) deal to buy out the half of the telecoms company that he doesn’t already own. It was an opportunistic move, given that Altice shares lost around half of their value during the pandemic from a February peak. Minority investors felt understandably short-changed. On Oct. 1, one of them, the hedge fund Lucerne Capital, addressed a letter of concern to the board...


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