Overview

• Altice France will enter an accelerated safeguard procedure in the coming days, aiming to formalize its debt restructuring agreement with creditors by September or October.
• The company secured a February agreement to reduce its €24 billion debt by €8.6 billion, ceding 45% equity and paying €1.6 billion in cash.
• Altice is reportedly exploring the sale of its SFR unit, valued at €30 billion, with potential buyers including French and international telecom operators.
• The safeguard process will reset creditor valuations and could pave the way for further asset sales to reduce debt to €13 billion.
• SFR has shown signs of recovery, gaining 17,000 mobile subscribers in Q1 2025, as Altice focuses on a commercial relaunch and improving service quality.