Altice nears deals to sell France, Portugal assets


Altice Europe NV (ATC.AE) is close to selling parts of its telecoms businesses in France and Portugal in a bid to pay down the company’s heavy debt load, according to people familiar with the matter.

Under one deal, which is still being finalized, private-equity firm KKR & Co.

KKR, +0.92%

would take a 49.9% stake in Altice’s French cellphone-tower business, the sources said.

Altice is in advanced talks to sell its towers business in Portugal to a consortium led by Morgan Stanley Infrastructure Partners, the people said. The two sales are expected to raise about 2.40 billion euros ($2.78 billion) in cash for Altice, one of the people said.

The deals would mark a reversal for the Amsterdam-listed company, which made a string of eye-catching acquisitions between 2014 and 2016, including deals for Cablevision Systems Corp. in the U.S. and SFR in France.

With investors pressuring the company to cut debt late last year, however, Altice placed a number of non-core assets on the bloc in an attempt to improve its balance sheet.

This month the company completed a spinoff of Altice USA Inc.

ATUS, -1.27%

the listed company that houses its American assets, to its existing shareholders.

In addition, Altice has indicated that it would be open to offers for its business in the Dominican Republic, but it is unclear when and if that business will be sold, according to bankers. Altice bought the DR business for EUR1.1 billion from French telecoms rival Orange five years ago.

Altice posted stronger-than-expected first-quarter results last month, but has increased its number of subscribers in France at the expense of revenue per user, a closely watched metric in the telecommunications industry.

Write to Nick Kostov at and Ben Dummett at

Source : MTV