Altice SFR (France) - comment

Patrick Drahi told SFR employees that he is not worried about the debt. He outlined his rationale entering on few short-term maturities before 2027 and his belief that rates will come down, referencing that luxury goods are collapsing, the current geopolitical situation as reasons why people will be putting their money back into bonds. He flagged a potential sale of a stake in SFR to PE but acknowledged that the segment has an image problem and needs to grow/win more valuable customers. Further, he is not “willing” to buy more of BT and at least pretended to be unwilling to yield the relatively valuable French media business.