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Drahi Raises Offer for Altice Telecoms By 30% after Legal Threat PUBLISHED BY French telecoms billionaire Patrick Drahi was forced to up his offer to buy out minority stockholders in the Amsterdam-based Altice Europe, after hedge funds threatened to take him to courts over the price. Drahi already has a 78 percent stake in Altice Europe. He offered a 24 percent premium on the share price in September to take the telecoms company private. Altice Europe’s board approved the share price. A number of funds, including Boussard & Gavaudan, Elliott, LB Partners, Sessa, Sheffield and Winterbrook, ...

By Reuters Staff (Adds background) PARIS, Dec 16 (Reuters) - The founder of Altice Europe NV , Patrick Drahi, has raised his offer to take the telecoms company private, to 5.35 euros ($6.53) per share from 4.11 euros, he said on Wednesday. A company statement said that shareholders including Boussard & Gavaudan, Elliott, LB Partners, Lucerne and Sessa, have committed to tender their shares under the new proposal. “This revised offer represents a significant increase in price, demonstrating that the company and its independent directors recognise the inherent value of Altice Europe stock,”...