“SFR will become a normal business again”: Patrick Drahi finds an agreement with his creditors

SFR and his parent company The Altice group finally leave the head of the water. After more than a year of discussions, the owner of the group, Patrick Drahi, and his creditors agreed to considerably reduce the colossal debt by 24 billion euros, which weighed like a sword of Damocles above the holding company. According to Figaro information, confirmed by a source close to negotiations, the 17 investment funds have agreed to reduce the bill by 8.6 billion euros, bringing the debt of the Altice group to 15.5 billion euros. In exchange, creditors recover 45 % of the capital possessed by Patrick Drahi. But the business manager, who risked losing control of the group as the situation became untenable, remains at the helm.