Altice Group continues money grab by opening fibre assets for business

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Altice Europe could sell stakes in its fibre broadband business, after confirming it is undergoing a strategic review of its asset.

The telco was responding to reports that private equity firms were circling its fixed line business.

It has been suggested that a 60 percent stake in the business could be up for grabs, netting Altice an estimated €3 billion.

In a statement this morning, an Altice spokesperson said it was exploring financial partnerships. It added: "No final decision with respect to any strategic transaction involving its fiber infrastructure has been taken, and it is yet uncertain that any such transaction will be concluded."

The money could be put to good use in reducing the size of its debt holding, which was amassed following a splurge of acquisitions.

Market jitters led to the departure of former CEO Michel Combes last year amid its share price being slashed by two thirds in 2017.

Earlier this year, Altice announced it was selling its French and Portuguese tower infrastructure, amounting to 13,000 sites.

It also revealed this morning that it had agreed its Dominican Republic towers business, comprising more than 1,000 sites, to Phoenix Tower International, which is part of the Blackstone private equity firm.