Last year’s deal to slash debt at Patrick Drahi’s French telecoms empire followed a fraught and protracted negotiation between the tycoon and his hedge-fund frenemies. With Altice France SA now set to be sold in transactions that may fetch €24 billion ($28 billion), the true economics of that restructuring are being revealed. Drahi — of course — emerges as the winner.
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Drahi’s $28 Billion Payday May Lap His Hedge Fund Frenemies
