Franklin advises Altice on reorganizing its fiber-to-the-home business as a subsidiary and selling a 49.99% stake to a consortium of three investment funds
Franklin has advised Altice on reorganizing its rural fiber-to-the-home (FTTH) business as a subsidiary and on selling a 49.99% equity interest in the new subsidiary, SFR FTTH, to a consortium of three investment funds.
The deal is expected to close in Q1 2019, subject to customary closing conditions.
The move will enable Altice to roll out its FTTH network more quickly and reach 5 million homes in rural areas by 2022, which will make SFR FTTH the largest alternative FTTH infrastructure wholesale operator in France.
Franklin’s team advising on the deal was composed of:
· of counsel Jean-Pierre Delvigne advising on public law aspects.
The consortium consists of Allianz Capital Partners (ACP), OMERS Infrastructure and AXA IM-Real Assets.