Altice France has sold its 49.99 percent stake in SFR FTTH for €1.8 billion in cash in a deal valued the company at €3.6 billion.
Allianz Capital Partners, AXA Investment Managers – Real Assets, OMERS Infrastructure are the buyers.
SFR FTTH, the largest alternative FTTH infrastructure wholesale operator in France, will sell wholesale services to all operators at the same terms and conditions including SFR as customer with no minimum volume commitments.
Altice France will sell technical services to SFR FTTH for the construction, the subscriber connection and the maintenance of its FTTH network.
SFR FTTH will deploy fibre in the next 4 years, at least 1 million homes passed per year which will provide growth for SFR in France.
“Three of the renowned infrastructure investors in the world are becoming our partners and committing large resources to build the leading FTTH wholesaler in Europe,” Patrick Drahi, founder of Altice, said.
SFR FTTH’s FTTH infrastructure network will be reaching 5 million homes including 1 million homes built by year-end.
SFR FTTH complements Altice France’s other fixed infrastructure assets: a fully modernized and fully owned FTTB network covering 9 million homes delivering up to 1Gb/s, and a fully-owned FTTH network of 2.5 million homes in very dense areas.
In total, SFR will cover more than 15 million homes in France and intend to expand further its network.