Macquarie Is Considering a Potential $5 Billion-Plus Altafiber Sale [Yahoo! Finance Canada]
Verizon Communications Inc. (VZ)
Last verizon communications inc. earnings: 4/24 07:30 am
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Source: Yahoo! Finance Canada
Most Read from Bloomberg Macquarie, which owns Altafiber through an infrastructure fund managed by its asset management arm, is working with advisers on options for Altafiber, which could fetch more than $5 billion in a sale, said the people, who asked not to be identified discussing confidential information. Macquarie is poised to begin formally soliciting interest in the company next year, one of the people said. The fiber operator is expected to draw interest from strategic buyers, as well from as private equity firms. No final decisions have been made and Macquarie could opt to hold onto Altafiber, the people said. Representatives for Macquarie and Altafiber declined to comment. A deal would add to a flurry of activity as major US mobile carriers buy up fiber-optic assets to diversify from wireless offerings and add capacity for customers' surging data use. Building new fiber-optic lines is expensive and takes time, which makes existing broadband operators ripe for acquis
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