Altice France, SFR’s parent company, is entering an accelerated backup process.

Altice France Enters Safeguard Procedure

The **telecommunications group** Altice France, the parent company of the operator **SFR**, is preparing to enter into an **accelerated safeguard procedure**. This stage has been planned since the restructuring plan for its **debt**, confirmed a source close to the file to the France-Presse agency (**AFP**) on May 21.

“As we announced at the end of February, to ratify the debt agreement, we must set up a jurisdiction-administering process, whose accelerated safeguard before the **Paris Commercial Court** is a part,” detailed this source. This step corresponds to the end of the **conciliation phase** with the creditors holding the **Altice debt**, which facilitated the agreement of more than **90%** of them. The procedure is expected to finalize the agreement by late **September to early October**, the same source added.

Debt Restructuring Agreement

Patrick Drahi’s group, which is heavily in debt (almost **24 billion euros** in the third quarter of **2024**), announced in late February that it had reached an agreement with a majority of its creditors to reduce its debt by **8.6 billion euros**. The agreement thus plans to bring down its total debt to **15.5 billion euros**, in exchange for **45%** of its capital.

Potential Sale of SFR

Furthermore, according to information from **Bloomberg**, Altice France is reportedly in discussions with various operators, both **French and foreign**, regarding the sale of **SFR**, which is valued at **30 billion euros**.

This group has not been listed on the stock market since **2021** and has struggled with difficulties over several years, mainly due to substantial debt and a **corruption scandal** involving the former leader of its **Portuguese subsidiary** and co-founder of the group. Altice France has initiated a **weight loss treatment** over the past year to alleviate its debt. The group has sold its media activities, which included **BFM** and **RMC**, several **data centers**, and its shares of **Mobile Post**, while other Altice subsidiaries abroad have also engaged in similar transfers.