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Reuters: KKR near deal for stake in Altice towers

Jun. 18, 2018 4:45 PM ETKKR & Co. Inc. (KKR) StockBX, KKR, AXAHY, ALIZF, AXAHF, ATCEY, ALLVF, ALVVF, ATUSBy: Jason Aycock, SA News Editor1 Comment
  • KKR is near a deal for a stake in the communications towers subsidiary of Altice (OTCPK:ATCEY), Reuters reports.
  • That would go a long way toward relieving burdens on the indebted telecom group, which is already restructuring via a separation of its U.S. business (NYSE:ATUS).
  • And KKR would be beating out rivals Blackstone (NYSE:BX) and a group including Allianz (OTCPK:ALIZF) and Axa (OTCQX:AXAHY).
  • Altice is shifting away from recent large acquisitions toward managing its debt pile (debt equals more than twice annual revenues) and sales growth.

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