- Altice will sell its majority stake in Intelcia to the company’s Moroccan executive shareholders, with the deal expected to complete in early 2026.
- Under Altice ownership Intelcia grew rapidly, expanding from 3 to 19 countries and multiplying revenues — the sale now marks a strategic refocus on the core telecom business.
What happened: Intelcia stake sale forms part of Altice deleveraging
Altice has struck a deal to sell its 65 per cent holding in outsourcing company Intelcia to Intelcia’s Moroccan executive shareholders. Altice has held the stake since 2016, and during that period Intelcia expanded significantly — growing its geographic footprint from three countries to 19, and boosting revenue roughly ten-fold (or seven-fold excluding Altice-related clients). The sale is expected to complete in the first quarter of 2026, pending regulatory and closing conditions.
Although financial terms have not been disclosed, the move is widely understood as another step in Altice’s broader strategy of asset sales aimed at reducing its substantial debt burden. Previous efforts have included ongoing attempts to divest parts of its French business, including mobile operator SFR. Observers note that while those larger deals remain in flux, the Intelcia sale reflects a more immediate push to strengthen the company’s balance sheet while retaining core telecom operations in Europe.
Intelcia itself says the transaction gives it the means to accelerate growth and diversify beyond its former dependency on Altice contracts. The company frames the sale as a springboard for continued expansion in outsourcing and business-process services, backed by its new controlling shareholders.
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Why it’s important
For Altice, shedding Intelcia signals a hard shift toward core operations — broadband, mobile and cable infrastructure — rather than non-core outsourcing businesses. That could help the firm refocus resources where they matter most, and potentially stabilise investor confidence amid industry consolidation pressure.
For Intelcia, independence from a telecom parent and ownership by its own executives may unlock new agility. With full control over its strategy, the firm could deepen its presence across international markets, diversify service offerings and pursue growth without legacy constraints.
The transaction also reflects a broader telecom-industry trend: operators thinning their portfolios to shore up core network assets while offloading business-service divisions. As telecoms consolidate and competition intensifies, such moves may become more common. The deal could serve as a test case for how outsourcing / BPO providers adapt after detachment from large telco owners.
