In a significant move aimed at reducing its hefty debt, Altice has decided to offload its French media operations to the maritime giant CMA CGM for €1.55 billion. The deal, structured as a cash transaction, sees CMA CGM acquiring an 80% share, while the remaining 20% goes to Merit France, a holding company related to the shipping group. This strategic sale encompasses Altice Media, the parent company of the well-regarded news channel BFM and RMC, a radio broadcaster.
Altice Group strategically eyes shedding its 50.1% sharing in XpFibre, triggering a ripple of interest from major players like KKR & Co., Macquarie Group, and others. While KKR & Co, Macquarie Group, and CDPQ are all reported to be keen on acquiring the stake, no financial bids have surfaced to date. Meanwhile, Altice Group’s decision to divest isn’t surprising, given its $60 billion debt, and recent considerations to sell other assets.
Discover how Telecommunications giant Altice, facing a whopping $60 billion debt, eyes its Portuguese operation Meo as a lifeline. Amid debt woes, other challenges surface, including a scandal involving co-founder Armando Pereira. International telecom players are also in motion, with the Saudi STC Group asserting its presence in Europe, and UAE-based e& planning to increase its stake in Vodafone.
Altice UK increases its stake in BT to 24.5%, fueling speculation about the company’s intentions. Despite no current plans for acquisition, the move highlights the shifting landscape of the telecommunications industry and the growing trend of insiders acquiring significant stakes in UK telco groups.
In an agreement with Altice Europe, Vodafone Group will roll out Fiber-to-the-Home in Germany as part of a €7 billion investment in its largest market. This collaboration complements Vodafone’s well-defined objectives for upgrading its current hybrid fiber cable network. According to a statement released by the two corporations on Monday, FibreCo, a 50/50 fiber partnership between Vodafone and Altice, will deploy fiber optic lines to as many as 7 million residences in Germany. Approximately 70% of the cost will be covered by debt raised by the new company. The transaction is scheduled to be completed in the first half of 2023. The transaction is thought to yield Vodafone up to €1.2 billion in cash proceeds from Altice, which is projected to exceed Vodafone’s portion of stock commitments. The profits include €120 million upon closure, up to €487 million in deferred payments as additional homes are connected, and another…
French telecoms to reduce their energy use Orange has proposed numerous energy-saving measures in order to address the current energy crisis that is expected to strike Europe this winter. Orange has announced that it will reduce its immediate power use by 5 to 10% for one hour every day. Altice will also assess its mobile network settings and implement power consumption cutbacks based on system traffic. The telecom provider will also phase out less energy-efficient equipment and limit its use of air conditioning when feasible in its data centers. Its offices and businesses will also have tighter controls over air conditioning and lighting usage. Read more at: https://tinyurl.com/2p83c9km Elon Musk decides to buy Twitter after all In the upcoming days, Elon Musk and Twitter may come to a settlement to terminate their legal dispute, paving the way for the richest man in the world to finalize his $44 billion purchase…
