A deal to sell a controlling stake in the French fiber optic company XpFibre SAS, owned by Patrick Drahi, postponed due to disagreements regarding the value of the transaction. This is reported by foreign media.
Potential investors offered from 6 billion euros ($6.5 billion) to 7 billion euros, including debt obligations, but Drahi, who owns 50.01% of XpFibre shares through Altice France, insists on 8 billion euros or more.
Patrick Drahi expects to reduce the debt burden of $60 billion by selling several assets, including a stake in XpFibre.
Private equity firms KKR & Co., Global Infrastructure Partners and Ardian have also expressed interest in acquiring a stake in XpFibre.
Negotiations are ongoing and do not exclude the conclusion of an agreement with Altice eventually.
In May 2024, Altice France transferred a controlling stake in XpFibre to a subsidiary that is not subject to certain debt obligations, allowing the parent company to raise new funds or sell assets.
The rest of XpFibre is owned by a consortium led by OMERS Infrastructure, which acquired a 49.99% stake in 2019 for 1.7 billion euros, valuing the company at 3.4 billion euros.
Xp Fibre is a French company providing services in the telecommunications infrastructure construction sector. The company specializes in the design, construction and operation of telecommunications networks for local governments.
Altice France specializes in telecommunications and media and provides fixed and mobile communications services to individuals and companies, as well as television, radio and digital information content services. Altice France also offers advertising solutions and participates in various network development partnerships. The headquarters is located in Paris (France).
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