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Altice Europe, KKR form telecom tower company in France

Altice Europe and New York-based private equity firm KKR & Co. formed an independent telecommunications tower company in France.

Hivory's formation follows the completion of KKR's acquisition of a 49.99% stake in a portfolio of more than 10,000 of Altice’s French towers.

Through Hivory, Altice and KKR will partner with mobile operators to develop and expand their coverage in the French mobile market, according to a Dec. 18 news release.