Lucerne Capital Sends Letter To Altice Europe Board Of Directors Expressing Deep Concern About Acquisition Offer From Next Private B.V.

Believes Offer Substantially Undervalues the Company and Neglects Rights of Minority Shareholders

GREENWICH, Connecticut and AMSTERDAM, Oct. 1, 2020 /PRNewswire/ -- Lucerne Capital Management ("Lucerne"), a registered investment adviser managing funds that own approximately EUR 94 million of shares of Altice Europe N.V. (ATC.AS) ("Altice Europe" or the "Company"), today delivered a letter to the Altice Europe Board expressing its deep concern about the all-cash offer of EUR 4.11 per share for all common shares A and common shares B of Altice Europe by Next Private B.V. (the "Offer"). 

As a long-term shareholder of Altice Europe stock, Lucerne outlines in the letter that the Offer is opportunistic, significantly undervalues the Company and is structured in a way that neglects the rights of Altice Europe minority shareholders.  Specifically:

The full text of the letter sent to the Altice Europe Board of Directors can be found here: https://hubs.ly/H0xfdZM0

About Lucerne Capital Management

Founded in 2000 by Pieter Taselaar, Lucerne Capital Management is an investment firm specializing in bottom up stock selection with a focus on European markets.

Contacts

Steve Bruce/Taylor IngrahamASC Advisors203-992-1230