October 3, 2018 / 9:40 AM / 16 days ago

Altice Europe shares rise on report of bid interest in fiber asset

PARIS, Oct 3 (Reuters) - Shares in Altice Europe rose sharply on Wednesday after Bloomberg News reported that private equity firms had expressed an interest in acquiring its fiber asset.

Altice Europe shares were up 8.5 percent by 0935 GMT. Altice Europe declined to comment on the report.

Bloomberg News reported that KKR, Allianz’s private equity arm, Ontario Municipal Employees Retirement System and Macquarie Group Ltd were among bidders for a stake in Altice Europe’s French fiber-to-the-home venture.

The bids are for a 40 to 60 percent stake and currently value the asset at 1.5 billion-3 billion euros ($1.7-$3.5 billion), added the report.

Altice Europe has embarked upon an asset-selling programme in order to cut its debts.

$1 = 0.8650 euros Reporting by Gwenaelle Barzic, Sudip Kar-Gupta, Blandine Henault and Thyagaraju Adinarayan, Editing by Helen Reid

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