Altice France UltraEdge sale - the important first step has been taken
Ahead of its results on Wednesday (read our preview HERE), Altice France has announced the sale of a 70% stake in its data centre business (UltraEdge) to Morgan Stanley Infrastructure Partners (MSIP) for a 100% EV of €764m (€535m of proceeds). In addition, SFR will enter into a build-to-suit agreement with UltraEdge by which SFR is expected to generate c€175m of additional proceeds within the next 7 years. We show the implications of this deal in this short report.
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