SFR FTTH completed the acquisition of Covage for $1.1bn.

Altice Europe-backed SFR FTTH, an alternative fibre-to-the-home infrastructure wholesale operator, completed the acquisition of Covage, a fibre wholesale operator, from Cube Infrastructure Fund and Partners Group for $1.1bn. “I am very pleased that we are further expanding the leading FTTH wholesaler in Europe. We are extremely proud to integrate Covage, a great company, with a portfolio of areas in France complementary to ours. With this transaction we also bring onboard excellent local relationships. We continue to be focused on deleveraging Altice Europe notably thanks to growing revenues and EBITDA which will be supplemented with disposal proceeds. As I have explained previously, we are in advanced discussions with several parties in relation to our Portuguese fibre asset. This process is supported by the significant appetite for fibre in Europe clearly demonstrated by the present transaction which has been strongly supported by our financial partners in SFR FTTH,” Patrick Drahi, Altice Founder.