What's going on?

The founder of Altice Europe rang round the telecoms and media giant�s other investors on Friday, offering to buy out their public stakes in the company for a combined $3 billion.

What does this mean?

Altice�s first boss remains by far its largest shareholder � and through his investment firm he�s offering the company�s other investors a 25% �premium� to what their Amsterdam-listed shares were worth on Thursday, valuing the entire business at almost $6 billion. If they accept, Altice Europe will once again become a private company, although sister company Altice USA will stay public.

While Altice�s board of directors has recommended investors take the money and run, some analysts argue the offer lowballs what the company�s actually worth. Its French founder may be taking advantage of the 42% collapse in Altice�s share price so far this year; that fall�s accelerated recently, while the average European telecom stock is down just 17% for 2020.

Why should I care?

For markets: Forever in your debt.

Telecoms companies are famed for their ability to borrow huge sums, which they can customarily comfortably repay from the steady cash flows their long-term recurring service contracts provide. But when the going gets tough both bond- and shareholders tend to get going, piling on pressure in the form of steeper interest rates on future borrowing, for one. While Altice Europe�s plans to invest in growth and reduce its debt won�t change once it�s taken private, it may be able to achieve those goals more easily without the regular and intense interrogation of public investors and analysts.

The bigger picture: Operator: please hold.

Altice isn�t alone in looking to �delist�: German startup hub Rocket Internet said earlier this month it�d buy back its shares from investors and take the company off the stock market. After seeing its share price lose over half its value since �going public� in 2014, Rocket too has decided a better way to conduct its sometimes controversial business is in private investors� pockets.