Altice SFR France - comment

Phoenix Tower International announced at the end of August the acquisition of 1,226 towers from SFR and 752 towers from Bouygues, expanding their operations in France.  Altice SFR France has not confirmed the sale but the proceeds will likely be in the €250-400m range.  This, coupled with an imminent sale of the data centres should satisfy the €1bn+ of asset proceeds mentioned on the Q2 call.  

However, details of the other €3bn of deleveraging are still a little vague with investors seeking clarity from Altice Management via the non-deal roadshow meetings to be held on Wednesday.