11/30/2018, 11:11 AM (Source: TeleTrader)
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Altice sells stake in fiber SFR unit for €1.8B

Altice France agreed to sell 49.99% in SFT to Allianz SE's Allianz Capital Partners, Axa SA's Axa Investment Managers – Real Assets, and Omers Infrastructure. The announcement released on Friday adds the €1.8 billion cash deal translates to an equity value of the mobile, television and internet services unit of Altice Europe NV of €3.6 billion. Omers is Ontario Municipal Employees Retirement System.

The business aims to pass five million homes in five years, of which one million by the end of the year, with fiber to the home (FTTH) or fiber to the premises (FTTP) in wholesale terms, the telco and media group based in the Netherlands claimed.

"With this transformational transaction and the various tower sales and partnerships announced earlier this year, Altice Europe has been able to crystallize €8 billion of infrastructure value and obtain cash proceeds of €4 billion in total in a few months," said founder and chairman Patrick Drahi.

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