Netherlands-based Altice Group seeks to raise up to EUR3 billion (USD3.6 billion) from the planned sale of its Altice Dominicana unit, Reuters reports, citing two sources with knowledge of the matter. The divestment – which is part of the group’s strategy to trim its EUR51 billion (USD60 billion) debt mountain – was reported just days after Altice completed the operational merger of its Orange Dominicana and Tricom business units, creating Altice Dominicana.
According to TeleGeography’s GlobalComms Database, in November 2013 Altice agreed to pay USD400 million for Tricom, before inking a separate USD1.4 billion deal for Orange. As such, a USD3.6 billion sale would mean that Altice has effectively doubled its money with the four-year turnaround.
TeleGeography notes that Viettel Group, Millicom International Cellular (MIC) and AT&T Inc have all expressed an interest in entering the Dominican Republic market in the last year, while Cable & Wireless Communications (now part of Liberty Global) and Digicel Group are also likely to be interested in the unit, having missed out when Orange was auctioned off back in 2013.