Altice Europe to Create Fiber Wholesale Business in Portugal With Morgan Stanley Infrastructure Partners
December 13 2019 - 2:36AM
Dow Jones News
By Cristina Roca
Altice Europe NV (ATC.AE) said Friday that it has agreed to
separate its fiber activities in Portugal into a dedicated
wholesaler and sell a 49.99% stake in the business.
The Amsterdam-listed telecoms company said its subsidiary MEO
has signed an agreement with Morgan Stanley Infrastructure
Partners.
The deal gives Altice Portugal FTTH, which comprises all of
MEO's fiber assets in Portugal, an enterprise value of 4.63 billion
euros ($5.16 billion).
As part of the deal, Altice will receive EUR1.6 million of cash
in 2020, plus, based on some performance ratchets, a further EUR375
million in December 2021 and EUR375 million in December 2026.
The deal will help Altice in its efforts to reduce its debt, the
company said.
The transaction with Morgan Stanley Infrastructure Partners
should close during the first half of 2020, Altice said.
Write to Cristina Roca at cristina.roca@dowjones.com;
@_cristinaroca
(END) Dow Jones Newswires
December 13, 2019 02:21 ET (07:21 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
Morgan Stanley (NYSE:MS)
Historical Stock Chart
From Mar 2024 to Apr 2024
Morgan Stanley (NYSE:MS)
Historical Stock Chart
From Apr 2023 to Apr 2024
