Report
Altice France : Removal of all holdco debt means that Altice France can now de-leverage
Excluding the sale of the 51% stake in Hivory (closing expected in H2 2021) for € 2.65bn and the distribution of proceeds to repay most of the acquisition debt that was raised by Next (Patrick Drahi’s holding company) to fund the delisting of Altice Europe, we believe that Altice France is on a de-leveraging trajectory. The trend is supported on the operating side by less aggressive competition in the French telecoms market, leading to ARPU as well as volume growth in the residen...
Underlying
SFR Group SA
Provider
Oddo BHF
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Pierre François Merveille
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