The stock-exchange proverb should hold another one moment the investors away from the action Altice, which knew a new agitated session yesterday, by falling by 8,8 % to move back in 7,559 euros in fence. For the day of November 3rd, the title lost more than half its value and knew only two brief bullish jolts, quickly subdued.
The market had sanctioned at first the title for a warning on the objectives 2017 and the little compelling perspectives in telecoms, in particular in France where SFR seems in the dead end in the face of his competitors. But the machine was quickly carried away because of the very high debt of the company, more than 50 billion euros, than only high cash flows are to pay off. The panic seized investors, instigated by one semantics catastrophiste in the media and by the subtle game of the hedge fund.
Shareholders in the attack
To crown it all, shareholders planned to attack the before the courts French company for distribution of false and misleading information. They are piloted by the lawyer Frédéric-Karel Canoy, a veteran of the fights of this type, met as well on files Vivendi as Natixis or EADS , and more recently in the affair of the "dieselgate", with more or less the success. The jurist also tries to federate plaintiffs in Amsterdam. At Altice, we speak obviously about manipulation and we consider that the approach is hostile and destabilizing. He does not prevent, this new forehead extends the list of the fights to be led by the company to restore the confidence of markets, his employees and his customers.