Altice NV (also known as Altice Group) has announced that its planned separation of Altice USA has been implemented. In order to facilitate the spin-off, Altice NV’s 67.2% stake in Altice USA was distributed to Altice NV shareholders. The shares were traded at a ratio of 0.4163 shares of Altice USA common stock for each share of Altice NV capital.
In connection with the separation, Altice NV has changed its name to Altice Europe NV. Trading of Altice NV shares on Euronext Amsterdam stock exchange under the new name is expected to take place today (12 June).