Altice (SFR) France - comment

And finally, the sale of the data centres.  Subject to regulatory approval, Altice (SFR) France have sold a 70% stake in UltraEdge, their 257 data centre plus office space Company.  The valuation is lower than previously guided, at an EV of €764m (or c.29x FY23 pro forma EBITDA of €26m.  

Proceeds of €534m is significantly less than originally expected, but management will argue they will potentially benefit from a future build-to-suit agreement with UltraEdge by which SFR is expected to generate c.€175m of additional proceeds over the next 7yrs.  

We await both Altice International and Altice (SFR) France results this week.