French telecom company Altice Europe is reportedly in talks with several unnamed investors to sell a stake in its high-speed fiber network in Portugal, according to Capacity Media.
Revenue from the business, formerly known as Telecom Portugal, was said to be €522 million ($580 million) in the first half of 2019, a 1.1 percent increase from the €516 million ($574 million) reported around the same time last year.
Altice owner Patrick Drahi told Capacity Media that the business has improved overall, hinting that the talks were not urgent.
“We’re growing the Portuguese business,” said Drahi. “We would very much welcome investors if they meet our conditions.”
The company reportedly is combating debt of €31 billion ($34 billion). The potential sale would follow a similar transaction for a 49.99 percent stake in its French fiber network that occurred last November. The deal fetched the company €1.8 billion ($2 billion).
