New Street Research - Altice France (SFR) (SFRFP) Altice France Media sale: Delevering target comes into focus

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New Street Research

Russell Waller

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Altice France Media sale: Delevering target comes into focus

As part of its delevering plan, Altice France has announced that it has sold 100% of its media division for €1.55bn. This is a very good price (15.1x EV/EBITDA), and will help considerably with reaching the 1x delevering target. We think more deals will follow in the coming weeks/months. In this short piece we run through the implications of the sale.

15/03/2024 1 EN

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Altice France (SFR)

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New Street Research

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Russell Waller

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Altice France Media sale: Delevering target comes into focus

Altice France (Most Preferred) Cleansing statement, summary of latest offers, our take

Altice France (Most Preferred) Updating Drahi net worth for recent newsflow and appraising the latest offer from Drahi to lenders

Altice France (Most Preferred) Altice International (Most Preferred) Sotheby's stake sale - Our take

Alphabet (GOOGL, Buy, $213 target) Forget Chrome, 3P payments are the heart of the issue

SATS: DBS merger breaks

3Q24 Broadband Trends: FWA capacity limits; FWA demand limits

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