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ATUS WI - Altice USA Inc News Story

$17.71 0.0  0.1%

Last Trade - 08/06/18

Sector
Telecoms
Size
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £7.10bn
Position in Universe th / 6858

Altice seals sale of stake in Portuguese network

Mon 20th April, 2020 7:46am
PARIS, April 20 (Reuters) - Telecoms and cable company
Altice Europe  ATCA.AS  sold on Monday a stake of about 50% in
its Portuguese fibre network to Morgan Stanley Infrastructure
Partners  MS.N  for around 2.3 billion euros ($2.5 billion).
    The sale, which follows an agreement initially struck in
December, marks the latest asset disposal carried out by Altice
Europe as part of its plans to cut its debts.  urn:newsml:reuters.com:*:nL8N28N1WL
    Altice said the new entity arising from the transaction
would be known as 'Fastfiber'. It added it would receive a total
of around 2.3 billion euros from the sale, comprising of an
initial 1.573 billion followed by 375 million due in December
2021 and another 375 million in December 2026.
    
    ($1 = 0.9222 euros)

 (Reporting by Sudip Kar-Gupta; Editing by Edmund Blair)
 ((sudip.kargupta@thomsonreuters.com; +33 1 49 49 53 84;))
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