July 5, 2018 / 4:10 PM / 5 months ago

Altice sells off high-society magazine Point de Vue

PARIS (Reuters) - Altice (ATCA.AS) (ATUS.N) has agreed to sell ‘Point de Vue’, a French magazine specializing on high society and royalty, as the telecoms and cable group continues its asset-disposal program to cut debts.

A consortium called “Royalement Votre Editions” - featuring the magazine’s current editor and other investors including billionaire Francois Pinault’s Artemis holding firm - said on Wednesday that it had bought the ‘Point de Vue’ title.

The financial terms of the acquisition were not disclosed.

Point de Vue was founded in 1945 by three major figures of the French Resistance - Publicis (PUBP.PA) founder Marcel Bleustein-Blanchet, Lazare Rachline and General Edouard Corniglion-Molinier.

Last month, Altice said it planned to raise 2.5 billion euros ($2.9 billion) from selling stakes in its telecoms towers businesses in France and Portugal.

Reporting by Sudip Kar-Gupta; Editing by Leigh Thomas

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