Altice has agreed to sell a majority stake in its French data centre business to a Morgan Stanley infrastructure fund.
Morgan Stanley Infrastructure Partners will take a 70% stake in the network of 257 data centres across France at an enterprise value of €764m (£665m). That is about 29 times the company’s 2023 earnings before interest, tax, depreciation and amortisation of €26m.
The telecoms group is working to shore up its finances after concerns mounted over its $60bn debt pile.
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