Tag: complaint

Drahi’s Bid to Take Altice Private Gets Investor Complaint

Hedge fund Lucerne Capital, an investor in Altice Europe NV, has raised objections to billionaire Patrick Drahi’s plan to take the company private, saying his offer undervalues the company.

Altice’s founder and largest shareholder made an offer Sept. 11 to pay 4.11 euros a share through his Next Private vehicle, valuing the entire company at 4.9 billion euros ($5.8 billion). That represented a 24% premium over the previous day’s closing price.

The offer represents a “significant discount” to the shares, and is designed to squeeze out minority investors, the hedge fund wrote in a letter to the French telecommunications company’s board Thursday.

The telecom's debt load has stoked price volatility

Lucerne Capital, founded in 2000, said it represents funds owning about 94 million euros of Altice Europe shares.

A representative for Altice was unable to provide immediate comment.

“Mr. Drahi is using the temporary lull in the share price, caused by Covid-19, to unlock the huge upside in

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TikTok Files New Complaint in Federal Court Over Commerce Ban

TikTok is not accepting its Sept. 20 “ban” without a fight.

TikTok is not accepting its Sept. 20 “ban” without a fight.
Photo: Nicolas Asfouri / AFP (Getty Images)

Although the clock is ticking, pardon the pun, TikTok is not going down without a fight.

Per Bloomberg and Reuters, the video-sharing app and its Chinese parent company, Bytedance, filed a complaint in a Washington federal court on Friday aiming to block the Trump administration’s upcoming ban, which is set to take effect on Sept. 20. The ban, announced by the Commerce Department earlier that day, will prevent any new downloads or updates to the app in the U.S. as of Sunday but will continue to allow users to access the app until Nov. 12 if they already had it downloaded prior to Sept. 20.

The Trump administration said that TikTok has until Nov. 12 to resolve the national security concerns it has about the app.

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TikTok files complaint against Trump administration to try to block U.S. ban

(Reuters) – Popular video-sharing app TikTok has asked a U.S. judge to block the Trump administration from enforcing a ban on the Chinese social media network, according to court documents filed late on Friday.

TikTok and its parent company, ByteDance Ltd., filed a complaint in a Washington federal court challenging the recent prohibitory moves by the Trump administration.

The U.S. Commerce Department announced a ban on Friday blocking people in the United States from downloading Chinese-owned messaging app WeChat and TikTok starting Sept. 20.

The ban was being introduced for political reasons, TikTok and ByteDance alleged in their complaint. TikTok also said the ban would violate the company’s First Amendment rights.

U.S. President Donald Trump, who has been locked in a long-running trade dispute with China, issued an executive order on Aug. 6 that prohibited U.S. transactions with the Chinese owners of messaging app WeChat and TikTok.

Both ByteDance and

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