November 21, 2018 / 6:48 PM / 25 days ago

Altice's founder Drahi is open to sell a stake in his French cable network

PARIS, Nov 21 (Reuters) - Altice Europe’s founder and majority owner Patrick Drahi said on Wednesday he is open to the idea of selling a stake in his cable network in France.

The Franco-Israeli tycoon is trying to pay down the group’s 30 billion-euro debt pile and share the burden of investing cash into the costly roll-out networks.

“I love my cable network so if somebody loves it as much as I do, I’m every open to sell a piece of it,” Drahi said in a conference call with analysts following the publication of the company’s third-quarter results.

Altice Europe is currently in talks with four contenders for a stake in its French fibre business network, sources have said. It also sold cellphone network towers in France and Portugal. (Reporting by Mathieu Rosemain and Gwenaelle Barzic, editing by Inti Landauro)

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