Altice Europe has announced the creation of Fastfiber (formerly known as Altice Portugal FTTH), which it says is the largest fibre-to-the-home (FTTH) wholesaler in Portugal, with roughly four million homes passed at end-2019. Fastfiber comprises all PT Portugal (MEO) fibre assets in Portugal, including FTTH and dark fibre infrastructure. The company aims to sell wholesale services to all Portuguese operators at the same financial terms. MEO, meanwhile, will sell technical services to Fastfiber for the construction, maintenance and subscriber connection to the fibre network.
The creation of Fastfiber follows the successful completion of Morgan Stanley Infrastructure Partners’ acquisition of a 49.99% stake in Fastfiber in December 2019. The final cash consideration received at closing was EUR1.57 billion (USD1.71 billion), while further payments have been scheduled as follows: EUR375 million in December 2021 and EUR375 million in December 2026, subject to some performance ratchets. Altice says that the overall transaction values Fastfiber at EUR4.63 billion.