Telecoms and cable company Altice Europe sold on Monday a stake of about 50% in its Portuguese fibre network to Morgan Stanley Infrastructure Partners for around 2.3 billion euros ($2.5 billion).
The sale, which follows an agreement initially struck in December, marks the latest asset disposal carried out by Altice Europe as part of its plans to cut its debts.
Altice said the new entity arising from the transaction would be known as ‘Fastfiber’. It added it would receive a total of around 2.3 billion euros from the sale, comprising of an initial 1.573 billion followed by 375 million due in December 2021 and another 375 million in December 2026.
Source: Reuters.com