October 4, 2016 / 4:36 PM / 10 months ago

French watchdog AMF says Altice SFR offer does not comply with rules

PARIS, Oct 4 (Reuters) - French financial markets regulator AMF said on Tuesday that Altice's all-share buyout offer for SFR, does not comply with rules.

Altice, the Luxembourg-based telecoms and media group controlled by Franco-Israeli billionaire Patrick Drahi, has said it wants to simplify the group's structure by exchanging 8 Altice class A shares for 5 SFR Group shares for the outstanding 22.25 percent of SFR shares it does not own.

AMF said it will publish a detailed decision soon.

Reporting by Bate Felix; Editing by Ingrid Melander

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