Altice to sell Teads

Altice to sell Teads
Teads is owned by Altice

Altice intends to sell adtech company Teads, according to L’Informé, confirming MergerMarket reports in September.

The telecommunications group, which owns mobile operator SFR and broadcaster BFMTV, is seeking a sale price of €2-3bn. It is understood that the company, founded by Patrick Drahi, wants to sell assets to alleviate debt of nearly $60bn.

Altice acquired Teads in 2017.

Apollo a potential candidate

Morgan Stanley, tasked with the sale, would have selected several candidates, such as New York fund Apollo Global Management, which would expect a valuation in the region of $2bn — less than the price tag expected by Altice.

Apollo bought Verizon Media in 2021 and renamed it Yahoo. The company closed its advertising agency in France and laid off more than half of its staff last summer.

In the first nine months of 2023, Teads reported a 7% decrease in turnover to €379m.

The original story appeared on The Media Leader France

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