Private equity firm KKR (KKR.N) is close to buying a stake in the telecom towers business of Altice (ATCA.AS), three sources told Reuters, a deal that will help the telecoms and cable group to pay down debt and reshape its European operations.
Under the deal, which is being finalised, KKR will use its infrastructure fund to take a minority interest in Altice’s towers subsidiary in France, the sources said.
The U.S. buyout group has trumped rival bids from private equity firm Blackstone (BX.N) and a consortium led by the infrastructure investment arms of insurers Allianz (ALVG.DE) and Axa (AXAF.PA) which also made it to the final stages of the auction, the sources said.
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