Altice Europe has announced that its subsidiary Altice France has entered into an exclusivity agreement and its subsidiary PT Portugal has reached an agreement regarding the sale of equity stakes in their telecommunication tower businesses in France and Portugal for a total cash consideration of €2.5 billion ($2.9 billion). As part of the transaction, Altice Europe would create one of the largest European telecommunication tower companies, including the No. 1 telecom tower company in France.
“With KKR, Morgan Stanley Infrastructure Partners and Horizon Equity Partners, we have found long-term partners of the highest quality who share our vision to invest in leading infrastructure and growth opportunities,” says Altice founder Patrick Drahi.
The future tower company, whose focus will include passive infrastructure and equipment, will be uniquely placed to offer higher-quality shared passive infrastructure services needed to support the expansion in France and Portugal of wireless services using 4G/5G technologies. Services will be available to all mobile network operators in France and Portugal. In conjunction with these projected transactions, Altice France and PT Portugal will enter into 20-year master agreements.
