Altice France Moves Closer to Creditors’ Terms in New Offer (1)

Altice France on Tuesday sent a group of its creditors a new proposal that is more aligned to some of the lenders’ previous demands, according to people familiar with the matter, bringing the distressed telecommunications company closer to a deal that would trim its €23.7 billion ($24.7 billion) debt pile.

The company’s latest offer improved the terms of an exchange with secured creditors under a potential deal and also adopted some measures the group had requested regarding future governance and the company’s structure, said the people, who asked not to be identified discussing private information.

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