Latest news with #AlticeFrance
Time of India
a day ago
- Business
- Time of India
Orange, Bouygues, Iliad-owned Free exploring carve-up of Patrick Drahi's SFR: Report
French telecom operators Orange , Iliad-owned Free and construction-to-telecoms conglomerate Bouygues are exploring a deal to carve out Patrick Drahi 's French telecom operator SFR , the Financial Times reported on Monday. Dividing up SFR, which would probably be led by Bouygues or Iliad , would result in its assets being split between the companies, the newspaper said, citing unnamed sources. A sale of SFR has become more likely after Drahi secured a restructuring from creditors of his French business, Altice France , earlier this year. Blackstone, KKR and Ardian are among the investment groups to have recently held preliminary talks over financing options with SFR's potential suitors, according to the FT report. KKR, Blackstone, Bouygues, Iliad, and Orange have declined to comment on the report. If a deal were to be agreed, it would probably come after the completion of the Altice France restructuring, which is expected in October, FT said, citing two people familiar with the matter. Reuters reported in February, citing sources, that Altice France is preparing to sign an agreement with its creditors to reduce the telecoms group's debt in exchange for a minority stake in the company, which will involve a debt reduction of 8.6 billion euros ($10.06 billion), bringing consolidated net debt to 15.5 billion euros. "Altice France is focused on implementing the debt agreement, considering the sale of non-core assets and continuing SFR's commercial relaunch and improving quality of service, two indicators that have already been well underway for several months," an SFR spokesperson said in an emailed statement to Reuters on Monday.
Yahoo
2 days ago
- Business
- Yahoo
Blackstone Targets $35 Billion French Telecom Deal--Is Europe the New Private Equity Battlefield?
Blackstone (NYSE:BX) may be eyeing its next big move in Europe and it's coming with telecom muscle. The firm is exploring a potential joint bid for SFR, the French mobile and broadband operator owned by Altice France, in a deal that could be valued as high as 30 billion ($35 billion) including debt. According to people familiar with the matter, Blackstone is holding early talks with possible partners, including SFR's rivals, and is likely to team up given the operational complexity of the target. No offer is guaranteed, but the discussions point to a growing private equity appetite for core infrastructure as valuations reset and sellers seek debt relief. Warning! GuruFocus has detected 4 Warning Signs with BX. This wouldn't be a one-off bet. Just weeks ago, CEO Steve Schwarzman said Blackstone is planning to deploy up to $500 billion in Europe over the next decade citing stronger visibility and rising defense budgets in the region as tailwinds. Amid uncertainty over the U.S. economic trajectory, Europe may be positioning itself as the more stable playground for big capital. Blackstone is clearly putting boots on the ground: Managing Director Mathieu Cransac and Principal Lukas Denizot are both relocating to Paris to help lead the charge. For Patrick Drahi's Altice France, a potential deal could be the next chapter in a years-long debt overhaul. The company recently struck a deal with creditors to cut 8.6 billion of debt around a third of its load while keeping control of SFR. A partial stake sale could help accelerate deleveraging and draw in strategic or financial investors. SFR has already attracted interest from local rivals like Bouygues, Iliad, and Orange, with Middle Eastern buyers also in the mix. Whether Blackstone ends up at the table or not, it's clear one thing: the bidding war for European telecom assets might just be heating up. This article first appeared on GuruFocus. Sign in to access your portfolio
Bloomberg
08-07-2025
- Business
- Bloomberg
Startup Promising Private Market Access to Wealthy Investors Collapses
By and Steven Church Save Welcome to The Brink. It's Jonathan Randles in New York and Steven Church in Wilmington, where we followed the bankruptcy filing of Linqto, a company which offered its customers access to private markets. We also have news on Altice France and Village Health. Follow this link to subscribe. Send us feedback and tips at debtnews@ Linqto offered its customers a tantalizing pitch: through the company, they could buy stakes in the hottest AI startups or private tech companies before they went public, something typically available only to big institutions.
Bloomberg
07-07-2025
- Business
- Bloomberg
Blackstone Explores Potential Joint Bid for Drahi's SFR
Blackstone Inc. is studying a potential joint bid for billionaire Patrick Drahi's French telecom operator SFR, which is considering a sale at a valuation of as much as €30 billion ($35 billion) including debt, according to people familiar with the matter. The New York-based firm has been in early discussions with other potential suitors including SFR competitors as it evaluates the merits of a deal, the people said. Blackstone is likely to team up with another bidder given the operational needs of the Altice France SA -owned carrier, said the people, who asked not to be identified as the information is private.
Bloomberg
18-06-2025
- Business
- Bloomberg
Altice France Files for Chapter 15 Bankruptcy in New York
Altice France filed for Chapter 15 bankruptcy protection in the Southern District of New York a few weeks after the company entered accelerated safeguard proceedings in France to help it address its debt burden. The business, owned by Patrick Drahi, filed the application on June 17 to seek recognition of the restructuring procedure supervised by a French court and to stop debtholders unhappy with that process undermining the restructuring using US law.
