Tofane Global is set to make its second acquisition from a network operator in the space of a week after entering into exclusive talks with Altice.
The two companies are set to finalise a deal for Altice’s international wholesale voice carrier business in France, Portugal and the Dominican Republic.
Financial details were not disclosed.
In a statement, Altice said: “This transaction shows further execution of Altice’s non-core asset disposal program to strengthen the company’s long-term balance sheet position and focus on improving the operational and financial results of its key franchises.”
Altice, which is due to unveil its 2017 financials later this week, does not break out the performance of the assets it is selling.
The company is looking to divest a range of businesses as its share price continues to tank on the back of investor fears about its debt and overall strategy.
The stock fell 57 percent during 2017 and is down over 13 percent since the turn of the year.
Last month, the company finalised the sale of its Switzerland-based telecommunications solutions business and data centre subsidiary.
France-based Tofane was set up last year by Alexandre Pébereau, a former CEO of Orange’s carrier division, aiming to acquire or form strategic partnerships with players in the international wholesale market.
It agreed a deal with KPN to acquire the Netherlands-based operator’s iBasis unit last week.