Altice Gears Up For Portugal Cable Network Sale

Debt-burdened telecom carrier Altice Europe is gearing up to sell a stake in its high-speed fiber network business in Portugal, sources familiar with the matter told Reuters, with an auction process expected to kick off within a fortnight, Reuters reported. Altice, which took control of Portugal Telecom in 2015, is looking to replicate its recent sale of a 49.99 percent stake in French fiber optic business SFR FTTH to three investment funds for 1.8 billion euros. The group, whose founder is billionaire Patrick Drahi, has hired Lazard to sound out potential bidders including U.S. funds KKR and Morgan Stanley Infrastructure Partners, the three sources said. Information packages on the Portuguese network are expected to be dispatched in the next couple of weeks detailing how Altice will split costs and margins between its telecom services division and cable network in Portugal, the sources said. Morgan Stanley’s infrastructure arm bought 75 percent of Altice’s Portuguese towers business last year in tandem with Horizon Equity Partners and it is seen as a strong contender in the upcoming sale, the sources said, cautioning that no deal was certain. Read more