At least four investor groups are hungrily eyeing a portion of Altice's fiber network business, according to sources cited by Reuters today.
They include US buyout fund KKR, German insurer Allianz, a group led by Australian investment firm Macquarie and US infrastructure fund I Squared Capital, four sources close to the deal told the news service. The potential deal is sparked by Altice majority owner Patrick Drahi's desire to pay down Altice Europe's debt of €32 billion (about $36.6 million US), Reuters reported.
Altice operates France's second-largest telco, SFR. To share the expensive fiber deployment costs for its French network, it's looking for a partner willing to buy between 40% and 50% of this asset. This could be work between €3.6 billion ($4.11 billion), Reuters reported.
Altice asked for final proposals by later this month. However, sources said the deadline might be extended, and Altice won't select the winner until December.
Although Altice expects to sell a large share of its fiber network, it wants to split "the same degree of governance control with the investors and have a say on key decisions," Reuters wrote.
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Tune in to Broadband World News Radio on Thursday, November 1 at 8 a.m. PT, 11 a.m. ET, 3 p.m. UK as Ronan Kelly, CTO, EMEA & APAC Regions at ADTRAN, explores the five pillars of network integrity -- a topic he discussed during his recent Broadband World Forum keynote. Register now!
Fast, reliable broadband is essential to how we live, work and play today – and the upcoming arrival of 5G will only further increase demand and reliance on fiber infrastructure. Already viewed by consumers as intolerable, delays, outages or the regular maintenance difficulties associated with operating a network will become further exacerbated when residential subscribers further rely on connected devices for day-to-day life. Just as providers deploy network automation tools to reduce operational issues, they must take similar care to manage consumer expectations when they roll out fiber or new services. This webinar features leaders who will discuss how to manage marketing and consumer expectations at every stage of the network lifecycle. Marketing professionals, c-level executives and policymakers interested in drumming up fiber envy should attend.