Altice Europe has agreed to sell its Dominican Republic telecoms towers business, Teletorres del Caribe, to Phoenix Tower International in a deal valuing the business at US$170 million, as the telecoms and cable group continues to shed assets to cut debt.
Altice said the sale to Phoenix Tower, owned by private equity firm Blackstone, was expected to be completed during the third quarter of 2018. The sale of the assets was driven by Altice’s desire to cut debts and improve the company’s business performance.
Altice will continue its telecom services in the Dominican Republic but says the sale of the towers will enable it to improve its current level service.
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Reuters
Listin Diario
31 July 2018
