Altice Sells Stake in New FTTP Network for EUR 1.8 Billion to Reduce Debt Load
On Nov. 30, Altice announced it agreed to enter a fibre-to-the-home, or FTTP, partnership with Allianz Capital Partners, AXA Investment Managers, and OMERS Infrastructure. Altice will own 50.01% and receive EUR 1.8 billion in cash. The partnership plans to build an FTTP network past 5 million homes by 2022, including 1 million this year. Importantly to us, this doesn’t include the 9 million premises passed by its hybrid fiber coax cable TV network or its 2.5 million homes in dense areas of Franc...Altice Europe is a provider of cable, fiber, mobile, telecommunications, content and media in Western Europe (comprising France, Portugal, Belgium, Luxembourg1 and Switzerland), the United States of America (U.S.), Israel, the Dominican Republic and the French overseas territories (comprising Guadeloupe, Martinique, French Guiana, La Reunion and Mayotte). Through its various business operations, Co. provides fixed services, mobile telephony services (other than in the U.S.) and media and advertising services to B2C and B2B customers in all of the geographies in which it operates. In addition, Co. offers a variety of wholesale and other services.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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