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The deal is drawing early interest from global telcos and investors, while Altice continues its debt restructuring
Altice is considering the sale of its controlling stake in SFR, with a potential transaction valuing the telecoms operator at up to €30 billion, according to a Bloomberg report.
The company, owned by French billionaire Partick Drahi, has recently circulated information on its French unit to prospective buyers, as it explores its options. Interest is expected from domestic rivals including Bouygues Telecom, Iliad, and Orange, as well as major Middle Eastern operators, such as the UAE’s e& and private equity firms.
Some parties are said to be considering bids for portions of the business, raising the prospect of consortium deals, Bloomberg reported.
Several groups have already engaged financial advisors to assess a potential acquisition, though discussions remain preliminary in the preliminary stages and no dela is guaranteed.
“Altice is focused on implementing the debt agreement, considering the sale of non-core assets, and pursuing SFR’s commercial relaunch and quality of service improvement, two indicators that have already been well oriented for several months,” said an Altice spokesperson speaking to Bloomberg.
A transaction would be dependent on Altice France completing its ongoing debt restructuring. The company’s debt pile currently stands at around €60 billion.
Sources also hinted that Drahi may choose to repurchase shares currently held by creditors, in a bid to strengthen his position ahead of any sale.
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