Private equity firms Carlyle Group and Cinven Group have announced that they are to sell shares in the Luxembourg-based telecoms group Altice which are worth a total of EUR337.5 million (USD422 million). Between them, the two companies are offloading 7.5 million shares priced at EUR45 each, Bloomberg reports. In June this year Altice sold new stock worth EUR911 million and used part of the proceeds to purchase a 14% stake in the French telco group Numericable from Cinven and Carlyle. Numericable is currently being merged with Vivendi’s French telco SFR in a USD23 billion tie-up which is due for completion before the end of the year. Altice has operations in France, Belgium, Luxembourg, Portugal, Israel, the Dominican Republic and the French Overseas Territories of Guadeloupe, Martinique, French Guiana, Reunion and Mayotte.