Altice Europe N.V. (Euronext ATC, ATCB) has announced that its subsidiary Altice France has entered into an exclusivity agreement with Allianz Capital Partners (“ACP”), AXA Investment Managers – Real Assets, acting on behalf of its clients (“AXA IM — Real Assets”), OMERS Infrastructure (“Omers”), (together the “Partners”) regarding the sale of a minority equity stake of 49.99% in SFR FTTH for a total cash consideration of EUR1.8 billion based on a EUR3.6 billion1 equity value, the company said.
With 5 million homes to be passed (including 1 million homes built by year-end) and more to be franchised or acquired, SFR FTTH is the largest alternative FTTH infrastructure wholesale operator in France.
SFR FTTH will sell wholesale services to all operators at the same terms and conditions including SFR as customer with no minimum volume commitments.
Altice France will sell technical services to SFR FTTH for the construction, the subscriber connection and the maintenance of its FTTH network.
SFR FTTH will deploy fibre massively in the next 4 years, at least 1 million homes passed per year which will provide growth for SFR in France.
Altice Europe, listed on Euronext Amsterdam, is a convergent provider of telecoms, content, media, entertainment and advertising. Altice delivers innovative, customer-centric products and solutions that connect and unlock the limitless potential of its over 30 million customers over fibre networks and mobile broadband. Altice is also a provider of enterprise digital solutions to millions of business customers. The company innovates with technology, research and development and enables people to live out their passions by providing original content, high-quality and compelling TV shows, and international, national and local news channels. Altice delivers live broadcast premium sports events and enables its customers to enjoy the most well-known media and entertainment.