Altice Europe concludes DR tower sale; conducting ‘strategic review’ of fibre assets

4 Oct 2018

Altice Europe has confirmed the closing of the transaction to sell 100% in the tower company Teletorres del Caribe, which comprises 1,039 sites formerly operated by its subsidiary Altice Dominicana, to Phoenix Tower International (PTI), a portfolio company of Blackstone. The transaction, which was first announced in July this year, values Teletorres del Caribe at USD170 million.

In other news, the Netherlands-based group has issued a statement following recent market speculation regarding its fibre infrastructure. The release reads: ‘Altice Europe has undertaken a strategic review of its fibre infrastructure to further accelerate its deployment and is exploring financial partnerships. No final decision with respect to any strategic transaction involving its fibre infrastructure has been taken, and it is yet uncertain that any such transaction will be concluded.’

The statement was prompted by a Reuters report that claimed Altice had received ten bids for its French fibre business, from the likes of I Squared Capital, KKR, Macquarie Group, Allianz’s private equity arm and the Ontario Municipal Employees Retirement System. A source told the news agency that Altice was planning on selling a 40%-60% stake in a newly created entity, which would likely be valued at between EUR1.9 billion (USD2.2 billion) and EUR3.8 billion.

No mention has been made of the group’s extensive fibre networks in Portugal.

Dominican Republic, France, Altice Dominicana (formerly Orange), Altice Europe (formerly Altice Group), Altice France (SFR)