Bouygues Telecom acquires 43.6% of Keyyo at EUR 34 per share; public offer to follow (translated)
10 DEC 2018
Following the press release dated October 25, 2018, the Bouygues Telecom and Keyyo [EPA: ALKEY] employee representative bodies issued their respective opinions on November 8 and 23, 2018 respectively, and unanimously approved the proposed merger.
Philippe Houdouin, Silvere Baudouin, Christophe Sollet, Michel Picot, Eric Saiz, Dominique Roche, as well as Financière Arbevel announce that they have signed the agreements relating to the sale to Bouygues Telecom of all of their 854,316 shares in Keyyo held directly or indirectly, representing 43.6% of the company's share capital, at a price of EUR 34 per share.
Subject to customary conditions, completion of the acquisition is expected before the end of January 2019.
Following this acquisition, Bouygues Telecom will file a voluntary takeover bid at the same price of EUR 34 per share, for all existing Keyyo shares not owned by Bouygues Telecom. In the event that the threshold allowing the realisation of a squeeze-out at the end of the settlement-delivery of the public offer is reached, Bouygues Telecom will request the implementation of a squeeze-out procedure for Keyyo.
The settlement-delivery of the public offering is expected in the first half of 2019. Bouygues Telecom and Keyyo will keep the market informed of any significant change in the transaction.
Link to French-language press release