Altice in talks to sell majority stake in Outremer Telecom
The Luxembourg-based media group Altice is preparing the sale of its subsidiary Outremer Telecom because of competition issues, according to a newswire.
The AFP report credited an unidentified source close to the matter as claiming that talks are already underway. The name of the potential bidder was not disclosed.
The source explained that the sale is due to the recent acquisition of French telecom group SFR, from Vivendi, by Altice's subsidiary Numericable, which raises competition issues as the new entity would have a dominant position in French overseas territories.
The competition authority is still reviewing the acquisition, that should be finalized by the end of the year, and will give its decisions by the end of October, the piece added.
Altice bought a 77% stake in Outremer Telecom in July 2013, the report mentioned. The alternative telecoms operator in the French overseas regions posted EUR 195m turnover in 2012, according to its website.