Altice planning to sell Dominican Republic unit - report

Thursday 23 November 2017 | 08:59 CET | News

Altice is looking to sell its recently-merged telecommunications unit in the Dominican Republic, according to unnamed sources cited by the Financial Times. The sale of Altice Dominican Republic would form part of the parent company’s plan to de-leverage its balance sheet and improve finances by selling non-core assets, including its tower portfolio, as early as the first half of 2018.

The news comes just days after Altice confirmed the merger of its Orange Dominicana and Tricom units after Dominican Republic watchdog Indotel finally approved the transaction. The Luxembourg-based group acquired Tricom for USD 400 million from Hispaniola Telecom back in November 2013, subsequently buying Orange Dominicana for USD 1.4 billion from the Orange Group, but the companies operated as separate businesses ever since. Altice Dominican Republic delivers mobile and fixed services to over 4.8 million customers and last year registered EUR 717.5 million in revenues and EUR 185.2 million in operating profit.

The report cautioned that the sale process of the unit is still in early stages but the current plan is to sell it in an auction as part of Altice’s efforts to cut its EUR 51 billion debt and reassure investors after seeing its share price plummet following the publication of its third quarter results, leading to the resignation of its CEO Michel Combes.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

::: add a comment