Patrick Drahi, the founder of Altice Group, is reportedly considering the sale of a portion of SFR, the French telecommunications operator, as part of a broader strategy to reduce the company’s substantial debt burden. This potential divestiture follows a series of financial maneuvers aimed at stabilizing Altice’s financial position.
Debt Restructuring and Sale of Assets
In February 2025, Altice France reached an agreement with its creditors to restructure €24 billion in debt, resulting in a reduction of €8.6 billion. In exchange, creditors acquired a 45% stake in the company, allowing Drahi to retain control. This deal also included a cash payment of €2 billion to creditors, sourced from the sale of Altice Media and data centers. (entrevue.fr)
Prior to this, in November 2023, Altice France sold a 70% stake in its data center business to Morgan Stanley Infrastructure Partners for €535 million, further alleviating debt. (envoy.east-us.cumulus.bloomberg.com)
Potential Sale of SFR
Reports from April 2025 indicate that Drahi is contemplating the sale of a portion of SFR to continue reducing debt. Discussions have been initiated with potential buyers, including French telecom rivals Bouygues Telecom and Free (Iliad Group), as well as international investors. The valuation for a minority stake in SFR is estimated at €3 billion, with the entire company valued at approximately €30 billion. (digitaltveurope.com)
Industry Implications
The potential sale of SFR has significant implications for the French telecommunications market. Consolidation could lead to increased competition among the remaining operators, potentially affecting pricing and service offerings for consumers. However, regulatory approvals and antitrust considerations will play a crucial role in determining the feasibility of such transactions.
As of May 2025, no official announcements have been made regarding the sale of SFR. Stakeholders are closely monitoring developments, awaiting further details on the strategic direction of Altice Group and its subsidiaries.
