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Altice Europe to sell Dominican Republic towers business

Cable, telecom and media group Altice Europe is to sell Dominican Republic towers business to private equity outfit Blackstone for US$170 million (€145 million).

Altice Europe has agreement to sell 100% of Teletorres del Caribe, which will control 1,049 sites currently operated by Altice Dominicana, to Blackstone portfolio company Phoenix Tower International.

Altice Dominicana will enter into a 20-year master agreement with Teletorres del Caribe, setting a partnership framework between the two companies. Teletorres del Caribe has committed to support Altice Dominicana in the continued deployment of its network.

The transaction is expected to close during Q3.

Altice Europe will post its Q2 results on August 2.

Consensus estimates predict that Altice France will see revenues drop year-on-year by 5.3% for Q2 to €2.551 billion, with revenues from Portugal set to fall by 5.3% and those from Israel set to dip by 7.2%. Dominican Republic revenues are expected to fall by 14.1% to €138 million.

Adjusted EBITDA from Altice France is expected to fall by 9.6% to €951 million, with Portugal expected to fall by 10.1% and Israel by 8.8%. Dominican Republic adjusted EBITDA is expected to fall by 17.2% to €77 million.

Altice Europe has announced a series of debt refinancing moves in recent weeks as it seeks to reduce its overall debt burden.