Private equity giants KKR and Global Infrastructure Partners have submitted bids for Patrick Drahi's controlling stake in French fibre network XpFibre, with offers ranging from €6 billion to €8 billion. The bids come as Drahi seeks to reduce the more than €50 billion debt burden across his Altice telecoms empire through strategic asset sales.

Drahi values XpFibre at €9 billion, where he holds a 50.01% stake alongside investors including Omers Infrastructure, Allianz, and Axa Investment Managers. The bids from Ardian, GIC-backed Vauban Infra Fibre, and others represent a critical juncture for the Franco-Israeli billionaire, who rejected a €17 billion offer for SFR last October.

The XpFibre sale follows mounting pressure on Altice France, which faces potential debt restructuring within 18 months without asset sales. Previous offers for XpFibre stalled in 2024 over valuation disagreements and Drahi's focus on restructuring Altice France. The sale would provide crucial breathing room as Drahi navigates complex negotiations with creditors who have grown increasingly concerned about his mounting debt obligations.