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Troubled Altice looks to offload Dominican republic unit - FT
November 23, 2017 / 5:27 AM / in 19 days

Troubled Altice looks to offload Dominican republic unit - FT

Nov 22 (Reuters) - Telecoms and cable group Altice NV is looking to sell its telecom network in the Dominican Republic, the Financial Times reported, citing sources.

The sale is a part of Altice's plan to dispose non-core assets to reduce leverage and improve finances, the paper said. (on.ft.com/2A4zm0s)

The sale process of the unit - Altice Dominican Republic - is still in early stages and plans could change, FT added.

Altice could not be immediately reached for comment outside regular business hours.

The company has grown in the United States and Europe through debt-fuelled acquisitions, raising its net debt to more than five times its annual core operating profit.

Altice reiterated earlier this month that it had identified non-core assets that could be sold, including its portfolio of telecoms towers, and that sales could start as early as the first half of 2018. (Reporting by Sangameswaran S in Bengaluru; Editing by Saumyadeb Chakrabarty)

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