Altice France, Creditors Clash Over Debt Cost, Equity Stake (1)

Altice France and a group of secured creditors ended their first round of discussions without reaching a deal over how to restructure the company’s €24.4 billion ($25.7 billion) pile of debt, according to a statement on Thursday.

The discussions between the embattled French telecommunications firm and the steering committee of its secured lenders were about finding ways to cut the company’s leverage.

Among the sticking points were the cost of debt and the amount of equity the company’s billionaire owner Patrick Drahi should give up to creditors, according to the statement.

In its latest proposal, Altice contemplated exchanging its secured ...