Eutelsat price jumps after Patrick Drahi’s takeover offer

Posted on Sep 30, 2021, 11:16 AMUpdated Sep 30, 2021 11:48 AM

It only took a press release to propel the Eutelsat action. After the French satellite operator confirmed last night that it had received “an unsolicited, preliminary and non-binding proposal from Patrick Drahi concerning a potential transaction on the entire share capital of the company”, the Stock Exchange adjusted the situation.

At the start of the day, the price of the Eutelsat share jumped 17% – its largest daily increase ever – to settle at 12.10 euros – precisely the price that Eutelsat indicated s ‘to be seen proposed by the Franco-Israeli telecoms tycoon.

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