01 December 2017
| Alan Burkitt-Gray
Altice is set to cut around €180 million of its €50 billion debt by offloading its Swiss data centre and telecoms business to a private equity purchaser.
Paris-based InfraVia Capital Partners will buy the business,
which includes Green.ch and Green Datacenter, for 214
million Swiss francs ($217 million or $182 million).
According to Altice, which owns the SFR mobile operator in
France, PT Telecom in Portugal and US cable companies
Suddenlink and Cablevision, the deal is expected to close in
InfraVia was founded in 2008 by Vincent Levita and
Laëtitia Feraud and operates from a single office in
Paris. It focuses on mid-cap European investments, working with
three infrastructure funds.
According to its website, Green.ch has more than 100,000
customers in 80 countries. Its Green Datacenter subsidiary
has four data centres, aiming at medium and large companies. It
recently opened GreenDatacenter Zurich West as the first
Swiss data centre with Tier-III design certification. Green.ch
provides internet connections, hosted services, multimedia
services and data backup solutions.
Shareholders have not welcomed Altice’s buying
spree over the past couple of years. Its share price on the
Amsterdam stock exchange has dropped from €23.26 in early
June 2017 to around €6.75 this morning. The current share
price puts the company’s market capitalisation at
€10.6 billion – about a fifth of the
Last month the company, controlled by founder Patrick Drahi,
removed the CEO, former Vodafone and Alcatel-Lucent executive
Michel Combes. Drahi told shareholders that he would focus on