Altice sells Dominican Republic towers to Phoenix Tower

31 July 2018 | Natalie Bannerman

Altice Europe has agreed to sell its Dominican Republic tower property to Phoenix Tower overseas, in a deal which values the enterprise at $one hundred seventy million.

Altice Europe has agreed to sell its Dominican Republic tower assets to Phoenix Tower foreign, in a deal which values the business at $one hundred seventy million.

through its subsidiary Altice Dominicana, Altice Europe has entered into an agreement to promote its tower company Teletorres del Caribe, which at present comprises of 1.”049 sites operated by means of Altice Dominicana.

in addition to the transaction, Altice Dominicana will enter right into a 20-year ‘Agen bola master agreement’ with Teletorres del Caribe to install a clear partnership framework between the two companies.

The enterprise hopes to sells any non-critical property in an try to reduce debt. The business has experienced rapid increase in contemporary years via a number of debt-financed acquisitions together with French telecoms neighborhood SFR.

however became to gradual its expansion due to a susceptible third-quarter which confirmed the business losing consumers to rivals comparable to Iliad, Bouygues Telecom and Orange. subsequently, Altice’s founder and billionaire, Patrick Drahi chose to break up the company’s US and European operations and start the procedure of marketing its assets to cut accounts and enrich company efficiency.

The sale to Phoenix Tower, owned by means of inner most equity enterprise Blackstone, is due to purchase place throughout the third quarter of 2018.

The Dominican knowledgeable Baseball wintry weather League is likely one of the most aggressive leagues on the earth, and has been an incubator, as well because the offseason home, for top-tier MLB gamers reminiscent of six-time MLB Allstar Jose Bautista and present Seattle Mariners slugger Nelson Cruz, together with former legends David Ortiz, Manny Ramirez, Vladimir Guerrero and Sammy Sosa, who have also participated within the league.

For greater counsel and a complete schedule, viewers can consult with

Televisin Dominicana is dispensed by way of most of the largest cable, satellite and telco providers in the country. Televisin Dominicana is a subsidiary of Hemisphere Media community, .

About Hemisphere Media group, .: Televisn Dominicana is a subsidiary ofHemisphere Media group, . NASDAQ:HMTV, the handiest publicly traded pure-play U.S. media company concentrated on the high increase U.S. Hispanic and Latin American markets with main broadcast and cable tv and digital content material structures. Headquartered in Miami, Florida, Hemisphere owns and operates five main U.S. Hispanic cable networks, two Latin American cable networks, and the leading broadcast tv community in Puerto Rico, and has possession hobbies in Canal 1, the #3 country wide broadcast television network in Colombia, Pantaya, a Spanish-language OTT provider in the U.S., and REMEZCLA, an influential digital media business.

Investor family members Edelman financial Communications for Hemisphere Media GroupDanielle O’Brien 646.277.1289 email protected

Media s Hemisphere Media GroupKatie Melenbrink646.705.2874email protected

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