Altice seeks to sell Dominican Republic unit

Altice is planning to sell its telecoms network in the Dominican Republic as it seeks to reduce its debt (USD 59 billion) and improve its performance, Financial Times reported, citing three sources.

The sale process is still in the early stages and plans could change, one of the people said. A spokesman for Altice declined to comment. According to Reuters, the company hopes to raise as much as USD 3.5 billion.

The information comes a few days after the company launched its new corporate identity – under the Altice brand – following the merger of Orange and Tricom, which was approved by the Dominican Telecommunications Institute (Indotel), with some restrictions, last September.