Altice Europe has announced the closing of the transaction to sell a 49.99% stake in newly-formed unit SFR FTTH to a consortium led by OMERS Infrastructure and including Allianz Capital Partners and AXA Investment Managers-Real Assets (AXA IM-Real Assets) for a final cash consideration of EUR1.7 billion (USD1.9 billion) based on a EUR3.4 billion equity value. SFR FTTH, an alternative fibre-to-the-home (FTTH) infrastructure wholesale operator in France, is aiming to cover five million homes with fibre within the next four years and more to be franchised or acquired. SFR FTTH is specialised in the design, construction and operation of telecoms networks and infrastructures for local authorities in less-densely populated areas (Appel a Manifestation d’Intention d’Investissement, or AMII zones, equivalent to roughly 27.7 million households) as well as Public Initiative Networks (PINs, locally known as Reseaux d’Initiative Publique, or RIP). SFR FTTH will sell wholesale services to all operators at the same terms and conditions. Altice France will sell technical services to SFR FTTH for the construction, subscriber connections and the maintenance of its FTTH network.