Funds to value Altice Portugal

 In Companies, News, Telecoms

Investment banks instructed by the telecommunication giant Altice International to study solutions to reduce the company’s multi-billion-euro debt, have sent a teaser to private equity funds with the aim of valuing Altice Portugal’s operation and other assets belonging to the group led by Patrick Drahi.

Despite being just a market probe on the possible value of the company, the funds see the prospectus as an offer to sell off assets, including Altice Portugal.
Alice has hired banks Lazard, BNP Paribas, Morgan Stanley and Goldman Sachs to assist it in its debt reduction process since the company has to slash its debts that currently stand at €50Bn.
The news has only fuelled rumours that Altice International is looking to offload its subsidiary in Portugal that controls the brand MEO. Altice has always denied this.
Altice France, Altice International and Alice Portugal have €4Bn of debt to pay off by 2026. The company is selling non-strategic assets such as its data centre in Covilhã, expected to be sold before Christmas.
This week the Portuguese Minister of Infrastructure, João Galamba met with the CEO of Altice Portugal, Ana Figueiredo to evaluate the company’s degree of “commitment” in terms of investment In Portugal.
Apparently a communiqué was issued by Altice asking the Portuguese government to provide “stable conditions” in order to continue to invest.

Image: Patrick Drahi by Jérémy Barande / École polytechnique.