American Tower Corp, KKR vying for Altice towers

14 Mar 2018

American Tower Corporation (ATC) and private equity firm KKR & Co. (formerly Kohlberg Kravis Roberts & Co.) are among the bidders for Altice Group’s mobile tower assets, Bloomberg reports, citing people with knowledge of the matter. The towers are likely to be valued at around EUR3 billion (USD3.7 billion), the article notes.

Other companies, including infrastructure operator TDF, have also expressed interest in all or parts of the assets in France, Portugal and the Dominican Republic after Altice sent out bid invitations last month. Sources noted that Altice is considering setting up a new company for the assets and selling stakes in it to the winning bidders. Separately, Spanish tower firm Cellnex is said to be considering a bid for Altice’s Portuguese cell towers.

In November 2017 Netherlands-based Altice took steps to restore shaken investor confidence amid concerns over its tumbling share price and EUR51 billion debt mountain. Certain non-core assets were identified for disposal, including Altice’s tower portfolio, and the group is optimistic of completing a sale in the first half of 2018.

Dominican Republic, France, Portugal, Altice Dominicana, Altice Europe, Altice France (SFR), Altice Portugal (MEO), Next Alt, Tricom