Altice is selling off two non-core assets as it looks to deliver on a promise to cut its debt.
The company, which has seen its share price fall by two-thirds this year, has agreed a deal with InfraVia Capital Partners for its Switzerland-based telecommunications solutions business and data centre subsidiary.
InfraVia will pay CHF214 million (€183.5 million) for green.ch, which provides retail and business customers with the likes of internet, cloud and multimedia services, and Green Datacenter, which serves medium-sized and large companies.
The deal is expected to close early next year, Altice said.
The operator saw sales and EBITDA decline in Europe in the third quarter, while group net debt widened by €361 million to €49.6 billion.
CEO Michel Combes resigned in the aftermath of the financial update as investors took fright.
Altice founder Patrick Drahi installed himself as President and moved to reassure the financial markets about the strength of the company’s balance sheet.
It has not had the desired effect, however, with the stock declining from €8.29 to €6.56.
There has been speculation that Altice is also looking to sell off its interests in the Dominican Republic, but the company has not commented.
Altice owns SFR in France, Portugal Telecom, HOT in Israel and several interests in the US.
The company is in the process of bringing all of its opcos under the Altice brand.