Altice says that it has entered into exclusivity with French based Tofane Global, over the sale of its international wholesale voice carrier businesses in France…
Altice says that it has entered into exclusivity with French based Tofane Global, over the sale of its international wholesale voice carrier businesses in France, Portugal and The Dominican Republic. Altice is continuing its policy of divesting non-core assets in a bid to reduce its debt levels, which currently amount to around €50 billion. Altice released a short statement upon entering into exclusivity with Tofane Global.
"This transaction shows further execution of Altice’s non-core asset disposal programme to strengthen the company’s long-term balance sheet position and focus on improving the operational and financial results of its key franchises," the statement read.
Altice has recently sold off its Swiss business unit and has publicly sort suitors for its entire operations in The Dominican Republic.
Altice's share price has continued to slump over the past 3 months as investors wrestle with the company's levels of debt. The company's shares continued their downward trajectory following the news of this latest potential divestment, settling at €7.75 per share at time of going to press, down from a high of €10.44 in January.