PARIS, March 14 A French court rejected Altice
's appeal against a regulatory decision to block its
all-stock offer for the shares in telecoms operator SFR Group
, a spokesman for SFR said on Tuesday, confirming an
earlier report by daily L'Agefi.
Billionaire Patrick Drahi's holding company Altice decided
in October to appeal the decision by French markets watchdog AMF
to block the buyout.
The unusual red light from the regulator was a blow for
Drahi, who is seeking a more streamlined corporate structure
ahead of expected consolidation among French and European
As of Dec. 7, Altice held 84.34 percent of SFR's shares,
according to Reuters data.
A spokeswoman for AMF was not immediately available for
comment. The SFR spokesman did not comment beyond confirming
(Reporting by Mathieu Rosemain; Editing by Adrian Croft)