Altice France Moves Media Sale Cash Out of Creditors’ Reach

Altice France moved some of the proceeds from a recent divestiture out of creditors’ reach as it prepares to start discussions over cutting its €24 billion ($26.2 billion) debt pile, according to people with knowledge of the matter.

The company shifted at least part of the proceeds it got from the €1.55 billion sale of Altice Media to an entity that sits above Altice France’s operations, said the people, who asked not to be identified discussing private information

Earlier, the money was in an unrestricted unit of Altice France that creditors could claim in the event of an insolvency or ...