Euronext-listed Altice has completed the acquisition of triple play operator Tricom from investment firms Amzak Capital Management and Inversiones Bahia through its local vehicle Altice Dominicana S.A.S.
The transaction, agreed at the end of October, is…
Euronext-listed Altice has completed the acquisition of triple play operator Tricom from investment firms Amzak Capital Management and Inversiones Bahia through its local vehicle Altice Dominicana S.A.S.
The transaction, agreed at the end of October, is Altice’s first in the Dominican Republic, and was followed up within the month by the larger acquisition of mobile operator Orange Dominicana for US$1.4bn.
Altice did not disclose the value of the Tricom deal but said it was financed using the proceeds of US$400m senior notes due 2020, which it issued in December.
Tricom’s main focus is on cable television, fixed line telephony and broadband, however it launched an LTE network in the country last year and Altice plans to develop its fledgling mobile business. It is the number two player in the triple play market, behind America Movil subsidiary Claro.
The acquisition of Orange Dominicana, the second largest mobile operator in the Dominican Republic, is yet to complete, but when it does it will be integrated with Tricom.
Earlier this year Altice raised US$2bn by listing on the Euronext in Amsterdam. The multinational telco is continuing to look for growth opportunities and is currently locked in a tussle with Bouygues to acquire French mobile operator SFR. Altice would like to combine SFR with its French cableco, Numericable, in a similar play to the one it executed in the Dominican Republic.
Altice has operations in France, Belgium, Luxembourg, Portugal, Switzerland, Israel, a number of French Overseas Territories, and the Dominican Republic.
Altice made its first acquisition in 2002 and says it has completed 20 deals overall, including 13 in the last five years.
