Deals
Altice Confirms Plan to Sell French, Portugese Phone Towers
- Tower portfolio is largest to come up for sale in Europe
- European unit posts 1.9% decline in fourth-quarter sales
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Altice NV confirmed plans to sell its telecommunications towers in France and Portugal as billionaire Patrick Drahi’s phone and cable company seeks to dispose of assets to cut debt.
The company is targeting signing a deal for about 13,000 tower sites in the two countries in the first half of this year, Amsterdam-based Altice said in a statement presenting fourth-quarter results late on Thursday. The portfolio is the largest to ever come up for sale in Europe, Altice said.