Altice Portugal to sell 49% of FTTH network to Morgan Stanley

Nieuws Breedband Portugal 16 DEC 2019
Altice Portugal to sell 49% of FTTH network to Morgan Stanley

Altice Europe’s subsidiary Meo has signed an agreement with Morgan Stanley Infrastructure Partners to create a nationwide fibre wholesaler in Portugal. This is the first time in Europe than an incumbent telecom operator separates its fibre into a dedicated wholesale vehicle, Altice said. 

Meo will sell a minority equity stake of 49.99 percent in Altice Portugal FTTH based on an enterprise value of EUR 4.63 billion. Altice Portugal will have 4 million FTTH homes passed by year-end 2019 and will sell wholesale services to all operators at the same financial terms. The transaction is expected to close in H1 2020.

The agreement follows a long sale process started in February, during which Altice was reported to have attracted as many as a dozen interested investors. The structure of the deal mirrors the company's FTTH joint venture in France agreed at the end of 2018. 

Categories:

Vast

Companies:

Meo,  Altice Europe,  Altice Portugal

Countries:

Portugal

Tags:

Fibre, M&A buyouts & divestments

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