By Oliver Griffin

Altice Europe NV (ATC.AE) said Friday that its subsidiary, Altice France, has agreed to sell a 49.99% minority stake in fiber-optic business SFR FTTH for 1.8 billion euros ($2.05 billion) in cash.

The Netherlands-based multinational telecoms company said the sale was agreed with Allianz SE (ALV.XE), AXA SA (CS.FR) and Omers Infrastructure. SFR FTTH is the largest alternative fiber-to-the-home wholesale operator in France.

The company said that after the sale, Altice France will sell technical services to SFR FTTH for the construction, the subscriber connection and the maintenance of its FTTH network.

Through its majority stake, Altice France will continue to make a full network return, Altice Europe said.

Write to Oliver Griffin at oliver.griffin@dowjones.com; @OliGGriffin

(END) Dow Jones Newswires

November 30, 2018 03:22 ET (08:22 GMT)

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