BNP Paribas, JP Morgan and Perella Weinberg Partners have been drafted in by billionaire Patrick Drahi’s cable company Altice and its SFR Group business as the former looks to hoover up the near-quarter stake in the latter that it doesn't already own.

Altice said in a statement on September 5 that it will launch a share exchange offer for the remaining 22.25% of SFR shares in a deal valued at about €2.4 billion. In 2014, Altice paid €16.8 billion through its Numericable Group subsidiary to take a controlling stake in SFR from Vivendi, before merging Numericable and SFR.