Altice €3B tower units attracts bidders - Mobile World Live

Altice €3B tower units attracts bidders

15 MAR 2018

American Tower and private equity company KKR reportedly made separate bids to acquire Altice’s telecoms towers, as the troubled company continues a drive to divest non-core assets.

Bloomberg reported both companies were among bidders for the tower assets, which are valued at around €3 billion, while operator TDF Infrastructure and other private equity firms also expressed an interest in acquiring all, or parts, of the business. In addition, Cellnex Telecom was linked to a bid for Altice’s Portuguese towers.

Altice, which is working to reduce its debt level by divesting non-core assets by mid-2018 and scaling back aggressive M&A, sent invitations to bid for its tower assets in February. The sales form part of a move by the company to reassure investors regarding its debt, which reportedly stands at €31 billion.

Bloomberg added the company is also mulling a plan to establish a new company for the assets and then sell stakes in the unit to winning bidders.

This week, the company announced it had entered into exclusive talks with Tofane Global to sell off its international wholesale business, which followed a December 2017 agreement to sell parts of its Swiss telecoms unit.

Altice founder Patrick Drahi has also restructured the business by spinning off its US unit and shaking up its European operations, which includes French operator SFR. The company’s Dominican Republic unit and a subsidiary in Portugal are also rumoured to be on the chopping block.

Author

Kavit Majithia

Kavit joined Mobile World Live in May 2015 as Content Editor. He started his journalism career at the Press Association before joining Euromoney’s graduate scheme in April 2010. Read More >>

Read more

Related

Tags