Drahi Is Making Good on Pledge to Sell Assets. But to What End?
- Altice UK agrees to sell 24.5% stake in BT to Bharti Global
- Billionaire yet to deliver on promise to cut debt with sales
This article is for subscribers only.
Patrick Drahi is in for a pay day after agreeing to sell his stake in BT Group Plc. That may or may not be good news for creditors of Altice.
If the billionaire owner of the media giant decides to use the money from the sale of Altice UK’s 24.5% stake in BT to pay down debt, it will come just in time for creditors getting ready for a bruising round of debt talks to limit writedowns.