March 17, 2014 / 12:05 PM / 4 years ago

Drahi says to be chairman of combined Numericable-SFR

PARIS, March 17 (Reuters) - Patrick Drahi said he plans to be chairman of the new company created by combining his cable group, Numericable, with Vivendi’s SFR, although he has not yet decided on the top executive posts.

Asked about the new company’s dividend policy, Drahi said his holding company Altice did not pay one since it preferred to invest rather than give out dividends.

“I do not have a dividend policy at this stage” for Numericable-SFR, he told a news conference on Monday.

Asked if that meant the new company would not pay a dividend, he said: “We do not commit to paying a dividend.”

Drahi added that he had “very little” doubt that the deal with Vivendi would be finalised. (Reporting by Leila Abboud; Editing by James Regan)

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