Eutelsat rejects $3.2B buyout offer from Altice founder Patrick Drahi, at least for now

by Peter B. de Selding

UPDATE Sept. 30: This story was updated to include Eutelsat's confirmation that that Altice/Drahi offer was for 12.10 euros per share.

PARIS — Satellite fleet operator Eutelsat said it had rejected an unsolicited takeover offer from telco Altice founder Patrick Drahi and “decided not to engage in discussions based on the terms of the proposal.”

The Sept. 29 statement followed market rumors that Drahi, whose Altice telco group has operations in Europe and the United States, was offering $3.2 billion to purchase Eutelsat.

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