Altice's Debt Woes: Talks with Morgan Stanley to Sell Data Centers
Altice, the cable and telecoms group, is reportedly in talks to sell its data centres in France to Morgan Stanley Infrastructure Partners in an effort to raise cash and alleviate its debt burden. The deal, which is said to have reached an agreement in principle on valuation, could be worth around €1 billion ($1.07 billion). Altice, led by French-Israeli billionaire Patrick Drahi, is under pressure to restore confidence in its financial stability after recent corruption allegations and a total debt of $60 billion. Drahi has pledged to sell assets to repay debt and address refinancing needs.
