Altice Bonds Rise After Report of Asset Sale Steps to Cut Debt
- Group is mulling sale of Altice France capital, reports say
- Drahi has been meeting investors in London, New York this week
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Bonds issued by Patrick Drahi’s telecoms companies rallied after reports that the billionaire is considering selling off a chunk of one of his flagship businesses in a drive to cut the group’s debt pile.
The French-Israeli tycoon is mulling the sale of part of the capital of Altice France, as well as options for Portugal Telecom and its ad-tech company Teads, according to a report by Le Monde newspaper on Thursday. A separate media report Wednesday said that the group was also nearing the sale of its French data center business in a deal valued at about €1 billion ($1.1 billion).