Patrick Drahi Shortlists Bidders for Controlling Stake in French Fiber Optic Firm XpFibre

Patrick Drahi, founder of telecom group Altice, has shortlisted a group of bidders for a controlling stake in XpFibre, a French fiber optic infrastructure company, sources familiar with the matter reported. XpFibre manages a significant portion of France's fiber optic network, serving millions of households and businesses.

The shortlisting marks a step forward in the potential divestiture of the stake.

Altice France, part of Drahi's broader holdings, owns XpFibre, which was established to handle the rollout and maintenance of high-speed internet infrastructure. The company has invested heavily in expanding fiber coverage across urban and rural areas in France. This infrastructure supports broadband services for major telecom operators.

The controlling stake in question represents a majority ownership interest in XpFibre, valued based on recent industry assessments.

Sources indicated that several international and domestic investors expressed interest in the bidding process. The shortlist includes entities from the telecom and infrastructure sectors, though specific names were not disclosed. Drahi's decision to pursue the sale comes amid Altice's efforts to manage debt levels following years of acquisitions in Europe and the United States.

XpFibre's assets are critical for France's digital connectivity goals, with the government aiming for widespread fiber access by 2025. The transaction, if completed, would transfer operational control to the winning bidder.

the shortlisting, the selected bidders are expected to enter a due diligence phase to evaluate XpFibre's financials and network assets.

Regulatory approval from French authorities would be required for any deal, given the company's role in national infrastructure. Telecom operators relying on XpFibre's network, including Altice France and competitors, could face changes in partnership terms. The process affects employees at XpFibre, numbering in the thousands, as well as the broader French telecom market.

Investors in Altice entities may see impacts on share prices depending on the sale's outcome. No timeline for final bids or completion has been specified by sources.