Altice France agreed in November 2023 to sell a 70% stake in its data center business for €535 million, reported at the time as $586 million. The transaction closed on May 23, 2024: the portfolio moved into UltraEdge, controlled by Morgan Stanley Infrastructure Partners, while SFR retained a commercial link through a separate build-to-suit agreement.
What Altice France sold
The business comprised 257 data centers and associated office space operated by SFR, according to Bloomberg News reporting carried by Data Center Knowledge on November 22, 2023. Altice France’s Q2 2024 results likewise describe 257 data centers plus office space and confirm the transaction’s closing.
Altice sold 70% of the business, rather than selling all of SFR or all of the data center operation. The assets were transferred into UltraEdge, which was controlled by Morgan Stanley Infrastructure Partners following the deal. SFR continued to have a business relationship with UltraEdge under a build-to-suit agreement.
How the €535 million price relates to other figures
The headline €535 million consideration—reported as $586 million in the contemporaneous coverage—was the amount for the 70% stake. It should not be conflated with either the stated enterprise value or anticipated proceeds from the separate SFR agreement.
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| Figure | What it refers to | Source and qualification |
|---|---|---|
| €535 million ($586 million) | Consideration for Altice France’s 70% stake | Bloomberg News reporting via Data Center Knowledge, November 22, 2023. |
| €764 million | UltraEdge enterprise value | Altice France’s Q3 2023 results; a valuation measure, not the cash consideration for the 70% stake. |
| Approximately €175 million | Expected additional proceeds to SFR under the build-to-suit agreement | Altice France’s Q3 2023 results; expected within seven years, and separate from the stake-sale consideration. |
The Q3 2023 figures and the sale terms are reported in Altice France’s Q3 2023 press release. The €175 million was an expectation under a separate arrangement, not part of the €535 million headline price.
When the agreement was announced and when it closed
The sale was announced in November 2023, but it did not close until May 23, 2024. Altice France recorded that closing in its Q2 2024 results, published August 29, 2024. Treating the announcement and closing as the same event would give the wrong transaction timeline.
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New Street Research analyst Russell Waller described the sale as significant because SFR had completed an asset sale despite concerns about whether it could deliver one at rumored prices. That assessment was reported by Bloomberg News via Data Center Knowledge; it was the analyst’s comment, not a statement from Altice France.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Why the sale mattered to Altice France
Contemporaneous coverage framed the disposal as part of Altice France’s effort to reduce debt. Later figures provide context, not a change to this transaction: Altice France reported pro forma net debt of €15.6 billion at the end of Q4 2025 in results published April 28, 2026. The company also reported subsequent activity involving its mainland France telecom operations; those later developments are separate from the data center sale.
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The closing date and asset description appear in Altice France’s Q2 2024 press release; the later debt figure and corporate context appear in its Q4 and FY 2025 results.
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