November 8, 2016 / 9:16 AM / 3 years ago

French regulator fines Altice 80 mln euros

PARIS, Nov 8 (Reuters) - France’s competition regulator on Tuesday imposed an 80 million euros ($88.5 million) fine on telecoms group Altice, which it said was due to Altice seeking takeover deals before getting regulatory clearance.

The French competition body said Altice had engaged in plans to buy SFR and Virgin Mobile before getting the necessary clearance from it.

SFR and Altice, which is run by billionaire businessman Patrick Drahi, said in a statement that they accepted the findings of the French regulatory body and would not challenge the fine.

$1 = 0.9042 euros Reporting by Gwenaelle Barzic and Sudip Kar-Gupta; Editing by Dominique Vidalon

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