Altice to Sell Telecom Tower Stakes for About EUR2.5 Billion
June 20 2018 - 12:25PM
Dow Jones News
By Nathan Allen
Altice Europe NV (ATC.AE) said Wednesday that its subsidiaries
in France and Portugal have agreed to sell stakes in their tower
businesses for 2.5 billion euros ($2.89 billion).
Under the terms of the deal, both subsidiaries will create
separate tower companies before selling off stakes, Altice
said.
Altice France will create a new company known as SFR TowerCo,
then sell a 49.99% stake to KKR & Co. LP (KKR), the company
said.
Altice said its subsidiary will create a new company in Portugal
to be named Towers of Portugal, then sell a 75% stake to a
consortium including Morgan Stanley Infrastructure Partners and
Horizon Equity Partners.
"Both tower businesses will be uniquely positioned to grow as
they provide increasingly important infrastructure services to
operators in both markets," Altice's founder Patrick Drahi said in
a statement.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
June 20, 2018 12:10 ET (16:10 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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